FORT LAUDERDALE, Fla. (AP) _ AutoNation Inc. (AN) on Thursday reported first-quarter net income of $362.1 million.
On a per-share basis, the Fort Lauderdale, Florida-based company said it had profit of $5.78.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $5.39 per share.
The auto retailer posted revenue of $6.75 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $6.63 billion.
AutoNation shares have decreased nearly 10% since the beginning of the year, while the S&P’s 500 index has declined slightly more than 6%. The stock has increased 13% in the last 12 months.
