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Copart's third-quarter revenue beats as vehicle sales rise
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Copart's third-quarter revenue beats as vehicle sales rise
May 16, 2024 3:40 PM

May 16 (Reuters) - Online vehicle auction services

provider Copart ( CPRT ) marginally beat third-quarter revenue

estimates on Thursday as vehicle sales increased.

The Dallas-based company, which primarily provides services

to sell damaged and total-loss vehicles to used-car dealers and

dismantlers, has benefited from robust volumes of salvage

vehicles.

Copart ( CPRT ) reported total revenue of $1.13 billion in the third

quarter, compared with analysts' estimates of $1.11 billion,

according to LSEG data.

Revenue from the company's vehicle sales division rose 3.5%

to $180.6 million.

Copart's ( CPRT ) net income rose to $382.1 million, or 39 cents per

share, in the third quarter, from $350.4 million, or 36 cents

per share, a year earlier.

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