AutoNation misses 2Q net income expectations, tops revenue forecasts

MarketsAssociated Press

AutoNation Inc. (AN) on Wednesday reported second-quarter net income of $115.1 million.

The Fort Lauderdale, Florida-based company said it had profit of $1 per share.

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The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The auto retailer posted revenue of $5.22 billion in the period, topping Street forecasts. Six analysts surveyed by Zacks expected $5.2 billion.

AutoNation shares have risen 7 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 3 percent. The stock has climbed 15 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 AN at http://www.zacks.com/ap/AN

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Keywords: AutoNation, Earnings Report