CarMax Inc. shares surged Friday, after first-quarter profit topped Wall Street’s estimates, boosted by the biggest jump in used-vehicle sales in nearly four years. The results indicate that CarMax is reaping the benefit of President Donald Trump’s automobile tariffs,

CarMax stock was rising Friday after the used-car retailer reported better-than-expected quarterly earnings and revenue. The company posted earnings of $1.38 a share for its fiscal first quarter, beating Wall Street’s call for $1.

Retail vehicle revenue was up 7.5% to $6.10 billion, on a 9% gain in unit sales. Wholesale vehicle revenue fell 0.3% to $1.25 billion, although units sold were 1.2% higher. The average selling price for used vehicles dropped 1.5%, and they were down 1.7% for wholesale vehicles.