Copart, Inc. (NASDAQ:CPRT) saw its shares fall 2% intra-day on Friday after the online vehicle auction platform reported first-quarter revenue that came in slightly below Wall Street forecasts, even as earnings exceeded estimates.

Revenue for the quarter ended October 31, 2025, totaled $1.16 billion, short of the $1.18 billion analyst consensus but up 0.7% from the same period last year. Adjusted earnings per share came in at $0.41, ahead of expectations of $0.40 and rising 11.7% from $0.37 a year earlier.

Net income attributable to Copart increased 11.5% year over year to $403.7 million. Gross profit grew 4.9% to $537 million, while operating income improved 6% to $430.7 million.

Service revenues — the largest portion of Copart's total revenue — edged up 0.6% to $991.8 million. Vehicle sales revenue rose 1.7% to $163.2 million.

International operations outperformed the U.S. business, with international service revenues climbing 7.9% year over year to $136.3 million. U.S. service revenues declined slightly by 0.5% to $855.5 million.