MEDFORD, Ore. (AP) __ MEDFORD, Ore. (AP) __ Lithia Motors Inc. (LAD) on Wednesday reported second-quarter earnings of $297.2 million.
On a per-share basis, the Medford, Oregon-based company said it had net income of $10.78. Earnings, adjusted for costs related to mergers and acquisitions, came to $10.91 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $9.19 per share.
The auto dealership chain posted revenue of $8.11 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $7.7 billion.
