August 1, 2018 / 11:21 AM / 2 months ago

AutoNation profit rises on greater revenue from new, used vehicles

DETROIT, Aug 1 (Reuters) - AutoNation Inc, the largest U.S. auto retail chain, on Wednesday reported a higher quarterly net profit that slightly exceeded analyst expectations on increased revenue from new and used vehicle sales.

The Ft Lauderdale, Florida-based company posted second-quarter net income of $97 million, or $1.07 per share, up 10 percent from $88 million, or 86 cents per share, a year earlier. Excluding one-time charges, the company posted earnings per share of $1.14, a penny above the $1.13 expected by analysts.

Reporting By Nick Carey; Editing by Bernadette Baum

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