16 days ago • Posted by William Ramstein

AutoNation profit and revenues rise above expectations on strong vehicle sales

AutoNation Inc. (AN) reported Monday second-quarter quarter profit and revenue that rose well above expectations, with particular strength in used car sales. The car dealer's stock was little changed in premarket trading. Net income rose to $384.8 million, or $4.83 a share, up from $279.8 million, or $3.18 a share, in the year-ago period. The FactSet consensus for earnings per share was $2.81. Total revenue climbed 53.9% to $6.98 billion, above the FactSet consensus of $6.07 billion. New vehicle sales grew 51.6% to $3.43 billion. Source: MarketWatch