AutoZone Q3 beats Street view, shares touch life-high

AutoZone Inc , the largest U.S. auto parts retail chain, posted strong third-quarter results that beat market estimates, partly driven by a rise in domestic same-store sales and addition of new outlets, sending its shares to a life high.

For the quarter ended May 7, the company, which also has presence in Mexico, reported a net income of $227.4 million, or $5.29 a share, compared with $202.7 million, or $4.12 a share, a year ago.

Revenue for the company, which has a market value of about $11.68 billion, rose to $1.98 billion from $1.82 billion.

Analysts on average expected earnings of $4.98 a share, before special items, on revenue of $1.92 billion, according to Thomson Reuters I/B/E/S.

Read Full Article from Reuters

- Posted: 2011-05-24 10:15:17

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