Shares of Advance Auto Parts Soar 19% After Topping Earnings Estimates

Shares of Advance Auto Parts (NYSE: AAP), a leading automotive aftermarket parts provider focusing on professional and do-it-yourself customers, were up nearly 19% as of 12:07 p.m. EST Tuesday after the company topped Wall Street's profit estimates.

Advance Auto reported total net sales of $2.18 billion for the third quarter, a 3% decline from the prior year and short of analysts' estimates calling for $2.21 billion. But despite falling short on revenue estimates the auto parts retailer generated adjusted earnings of $1.43 per share, which was far better than analysts' consensus estimate of $1.20 per share.

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Source: Fool.com