Copart shares tumble as quarterly results miss expectations

Copart Inc. (NASDAQ:CPRT) shares fell 11.1% in after-hours trading after the company reported second-quarter fiscal results that missed Wall Street expectations. The online vehicle auction leader posted earnings per share of $0.36, below the analyst consensus of $0.39, and revenue of $1.12 billion, which also lagged behind the expected $1.15 billion. This marks a decline in both earnings and revenue compared to the previous year, with gross profit also contracting.

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