DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Asbury Automotive Group Inc. (ABG) on Tuesday reported first-quarter profit of $181.4 million.
The Duluth, Georgia-based company said it had net income of $8.37 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $7.94 per share.
The auto dealership chain posted revenue of $3.58 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $3.7 billion.
Asbury Automotive shares have increased 15% since the beginning of the year. The stock has climbed 29% 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 ABG at https://www.zacks.com/ap/ABG
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