UPDATE 1-Credit Acceptance Q1 profit trails Street
* Q1 adj EPS $1.12 vs est $1.16
* Expenses jump 21 pct
April 29 (Reuters) - Auto lender Credit Acceptance Corp (CACC.O) posted a quarterly profit that trailed Wall Street estimates on higher expenses.
For the first quarter, net income rose to $32.0 million, or $1.01 a share, compared with $29.0 million, or 93 cents a share, a year ago.
Excluding items, the company earned $1.12 a share.
Analysts on average had expected earnings of $1.16 a share, according to Thomson Reuters I/B/E/S.
Expenses rose 21 percent to $50.8 million.
Shares of the company closed at $46.75 Thursday on Nasdaq. (Reporting by Jochelle Mendonca in Bangalore; Editing by Anne Pallivathuckal)