BLOOMFIELD HILLS, Mich. (AP) – BLOOMFIELD HILLS, Mich. (AP) – Penske Automotive Group Inc. (PAG) on Wednesday reported first-quarter earnings of $298.3 million.
The Bloomfield Hills, Michigan-based company said it had net income of $4.31 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $4.03 per share.
The auto dealership chain posted revenue of $7.34 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $6.83 billion.
