AutoZone Inc. said Tuesday its net income rose 17 percent in its fiscal third quarter on strong sales of automotive replacement parts and several new store openings.
The results breezed past analyst projections.
The company said its net income rose to $202.7 million, or $4.12 per share, in the three months ended May 8 from $173.7 million, or $3.13 per share, a year ago.
Revenue rose 10 percent to $1.82 billion from $1.66 billion a year ago.
Analysts surveyed by Thomson Reuters expected earnings of $3.59 per share on $1.71 billion in sales, on average.
Shares of AutoZone closed Monday at $184.25, up 17 percent for the year.
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