SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Credit Acceptance Corp. (CACC) on Tuesday reported first-quarter earnings of $64.3 million.
On a per-share basis, the Southfield, Michigan-based company said it had net income of $5.08.
The auto financing company posted revenue of $508 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $495.3 million.
Credit Acceptance shares have declined nearly 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $513.72, a climb of 3% in the last 12 months.
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