MEDFORD, Ore. (AP) — MEDFORD, Ore. (AP) — Lithia Motors Inc. (LAD) on Thursday reported second-quarter profit of $214.2 million.
On a per-share basis, the Medford, Oregon-based company said it had profit of $7.87.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $7.09 per share.
The auto dealership chain posted revenue of $9.23 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $9.2 billion.
