INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Allison Transmission Holdings Inc. (ALSN) on Thursday reported first-quarter profit of $192 million.
The Indianapolis-based company said it had net income of $2.23 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.
The automatic transmission maker posted revenue of $766 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $775.1 million.
Allison Transmission shares have decreased 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $93.39, a rise of 27% in the last 12 months.
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