CHARLOTTE, N.C. (AP) _ Sonic Automotive Inc. (SAH) on Thursday reported first-quarter net income of $97.3 million.
The Charlotte, North Carolina-based company said it had net income of $2.33 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.45 per share.
The auto dealer posted revenue of $3.59 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $3.73 billion.
