INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Allison Transmission Holdings Inc. (ALSN) on Monday reported second-quarter net income of $195 million.
The Indianapolis-based company said it had net income of $2.29 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.20 per share.
The automatic transmission maker posted revenue of $814 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $794.4 million.
Allison Transmission shares have decreased 19% since the beginning of the year. In the final minutes of trading on Monday, shares hit $88, an increase of slightly more than 5% in the last 12 months.
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