CarMax Reports Quarterly Earnings Than Miss Expectations

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CarMax shares hit the gas as strong demand for used autos powers earnings beat

CarMax reported earnings before the market opened Friday.

6/20/25 9:43AM

CarMax reported earnings ahead of market open on Thursday and the used vehicle retailer posted a 38% jump in profit from last year. Its shares climbed 10% in premarket trading.

The company posted earnings of $1.38 per share, beating analyst estimates of $1.16. Sales reached $7.55 billion, compared to Wall Street’s $7.5 billion outlook.

CarMax logged its biggest jump in used vehicle sales since late 2021, selling 230,000 used retail vehicles on the quarter, a 9% year-over-year increase. Its sales are still significantly ahead of rival Carvana, though the latter has been gaining ground. In its most recent earnings report, posted last month, Carvana sold just shy of 134,000 used vehicles, a 46% spike.

CarMax’s average selling price for used vehicles dipped 1.5% to $26,120. The number of vehicles the company bought on the quarter rose more than 7% to 336,000, led by a 38% surge in buying through dealers.

The used vehicle market has shown strength as new vehicles face price hikes amid tariffs and the end of tariff-based sales incentives. According to Cox Automotive, 1.53 million used vehicles were sold in the US in May, up 4% from last year.

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Texas sues Netflix, accusing streamer of spying on children and collecting user data without consent

The state of Texas filed a lawsuit Monday against streaming giant Netflix, alleging that the company has built a “behavioral-surveillance program of staggering scale.”

The suit alleges that Netflix is “deceptively designed” to be addictive, using features like autoplay to get viewers hooked, “mining those users for data, and then converting that data into lucrative intelligence for global advertising juggernauts.”

“When you watch Netflix, Netflix watches you,” the lawsuit reads.

“This lawsuit lacks merit and is based on inaccurate and distorted information,” Netflix said in a statement to Sherwood News. “Netflix takes our members’ privacy seriously and complies with privacy and data‑protection laws everywhere we operate.”

Texas is seeking civil penalties of “up to $10,000 per violation” of the Texas Deceptive Trade Practices-Consumer Protection Act, along with an additional penalty of up to $250,000 per violation involving a consumer aged 65 or older.

“Netflix is not the ad-free and kid-friendly platform it claims to be. Instead, it has misled consumers while exploiting their private data to make billions,” said Texas Attorney General Ken Paxton in the press release announcing the lawsuit.

Netflix did not immediately respond to a request for comment.