FORT LAUDERDALE, Fla. (AP) _ AutoNation Inc. (AN) on Tuesday reported first-quarter net income of $239.4 million, after reporting a loss in the same period a year earlier.
The Fort Lauderdale, Florida-based company said it had net income of $2.85 per share. Earnings, adjusted for non-recurring gains, were $2.79 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.80 per share.
The auto retailer posted revenue of $5.9 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $5.06 billion.
AutoNation shares have risen 40% since the beginning of the year. The stock has more than tripled in the last 12 months.
