CHARLOTTE, N.C. (AP) _ Sonic Automotive Inc. (SAH) on Thursday reported third-quarter net income of $59.8 million.
The Charlotte, North Carolina-based company said it had profit of $1.34 per share. Earnings, adjusted for non-recurring gains, came to $1.29 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The auto dealer posted revenue of $2.55 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $2.6 billion.
Sonic Automotive shares have risen 19% since the beginning of the year. The stock has risen nearly 9% in the last 12 months.
