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CarMax posts stronger third-quarter earnings

DETROIT, Dec 17 (Reuters) - Auto retailer CarMax Inc. on Wednesday reported a 29 percent rise in quarterly net earnings, driven by stronger new and used vehicle sales.

The Richmond, Virginia-based company said net income in the fiscal third quarter ended Nov. 30 rose to $19.1 million, or 18 cents per share, compared with a profit of $14.7 million, or 14 cents per share, in the year-ago quarter.

Wall Street analysts had expected earnings of 17 cents per share, the mid-point of the company's October forecast, according to Reuters Research, a unit of Reuters Plc.