CarMax (KMX) and KB Home (KBH) reported earnings results before the bell on Friday. CarMax reporting slightly weaker-than-expected sales for the fiscal first quarter, although earnings came in line with estimates. CarMax said it earned $182 million in the quarter, or $0.86 a share, on revenue that rose about 7% to $4 billion. Analysts had expected earnings of $0.86 a share on revenue of about $4.1 billion, according to Thomson Reuters. Although the company reported used vehicle sales that rose 9.3%, the average selling prices for used vehicles fell 1.6%. Homebuilder KB Home reported second-quarter profit that fell from a year ago, but still managed to beat analyst expectations. The company said it earned net income of $9.6 million, or $0.10 a share for the quarter, on total revenues that rose 10% to $623 million. Analysts expected the company to report profit of $0.08 a share on revenue of $619 million, according to Thomson Reuters. Revenue growth was largely driven by housing and land sales.
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