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AutoZone, Inc. (AZO) Stock Rises Despite 3Q Earnings Disappointment

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AutoZone, Inc. ( AZO ) stock was up Tuesday despite a poor Q3 earnings report.

AutoZone reported revenue of $2.59 billion during its third quarter of 2016. This is an increase over the $2.49 billion it reported during the same time last year. However, it didn't meet analysts' estimate of $2.65 billion.

AZO's earnings per share for the quarter were $10.77. This is up from the $9.57 it reported during the third quarter of 2015, but it failed to meet Wall Street's expectations of $10.92.

AutoZone is continuing its store expansion and opened 41 new locations in North America during its third quarter. The company noted that comparable same-store sales for locations open at least a year increased by 2% in its most recent quarter.

AZO shares were up 2% as of Tuesday morning.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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