FORT LAUDERDALE, Fla. (AP) — FORT LAUDERDALE, Fla. (AP) — AutoNation Inc. (AN) on Friday reported second-quarter profit of $86.4 million.
The Fort Lauderdale, Florida-based company said it had net income of $2.26 per share. Earnings, adjusted for asset impairment costs, were $5.46 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4.70 per share.
The auto retailer posted revenue of $6.97 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $6.8 billion.
AutoNation shares have increased 18% since the beginning of the year, while the S&P’s 500 index has climbed 8%. The stock has risen 16% in the last 12 months.
