Advance Auto Parts beats 2Q profit expectations, misses revenue forecasts

Markets Associated Press

Advance Auto Parts Inc. (AAP) on Thursday reported second-quarter profit of $150 million.

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On a per-share basis, the Roanoke, Virginia-based company said it had net income of $2.03. Earnings, adjusted for amortization costs, came to $2.27 per share.

The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.25 per share.

The auto parts retailer posted revenue of $2.37 billion in the period, which fell short of Street forecasts. Nine analysts surveyed by Zacks expected $2.38 billion.

Advance Auto Parts expects full-year earnings in the range of $8.10 to $8.30 per share.

Advance Auto Parts shares have increased 8 percent since the beginning of the year. The stock has increased 38 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAP at http://www.zacks.com/ap/AAP

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Keywords: Advance Auto Parts, Earnings Report