AutoZone, Inc. (NYSE:AZO) stock fell Tuesday despite the company reporting stronger third-quarter revenue growth and continued expansion across its commercial and international businesses.
AutoZone Posts Strong Revenue Growth Despite Stock Decline
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The automotive-parts retailer, which serves both do-it-yourself customers and professional mechanics through its stores and online platforms, reported third-quarter earnings of $38.07 per share, beating analyst estimates of $36.10. Revenue increased 8.4% year over year to $4.84 billion, ahead of Wall Street expectations of $4.83 billion.
Comparable Sales Rise Amid Margin Pressure
