BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Wednesday reported third-quarter earnings of $355.1 million.
The Bloomfield Hills, Michigan-based company said it had net income of $4.47 per share. Earnings, adjusted to account for discontinued operations, came to $4.46 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.53 per share.
The auto dealership chain posted revenue of $6.5 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $6.46 billion.
