BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Wednesday reported first-quarter profit of $367.9 million.
The Bloomfield Hills, Michigan-based company said it had net income of $4.76 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.94 per share.
The auto dealership chain posted revenue of $6.98 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $6.26 billion.
