AutoNation partners with Alphabet's Waymo


Nov 2 (Reuters) - U.S. auto retailer AutoNation Inc on Thursday announced a multi-year partnership with Alphabet Inc's Waymo self-driving car unit, and reported profit for the third quarter above analysts' expectations.

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AutoNation said its stores will provide vehicle maintenance and repairs for Waymo's self-driving Chrysler Pacifica hybrid vehicle fleet, and will expand with Waymo as it adds more brands.

AutoNation, America's largest auto retailer, also reported a better-than-expected profit, as the impact from the recent spate of hurricanes was not as bad as feared.

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The company's net income from continuing operations fell to $97.6 million or $1.00 per share in the quarter ended Sept. 30, from $107.8 million or $1.05 per share, a year earlier.

Total revenue fell 2.4 percent to $5.43 billion.

Analysts on average had expected third-quarter profit of 84 cents per share and revenue of $5.58 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Sai Sachin Ravikumar)

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