AutoZone Inc. has reported an increase in earnings for its second quarter, surpassing the previous year's performance and exceeding market forecasts.
The company posted a net income of $515.03 million, equating to $28.89 per share, an improvement from the same period last year when it was at $476.54 million, or $24.64 per share.
Analysts had projected earnings of $26.28 per share, according to Thomson Reuters, with this projection typically disregarding any special factors.
The firm's revenue saw a 4.6% rise from last year, amounting to $3.86 billion as compared to $3.69 billion reported in the prior year.
In a nutshell, AutoZone Inc.'s earnings stood at $515.03 million, up from $476.54 million last year, with Earnings Per Share (EPS) escalating to $28.89 from the previous year's $24.64. Meanwhile, their quarter two revenue increased to $3.86 billion from $3.69 billion last year.
