SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Credit Acceptance Corp. (CACC) on Thursday reported fourth-quarter profit of $122 million.
The Southfield, Michigan-based company said it had net income of $10.99 per share. Earnings, adjusted for non-recurring costs, were $11.35 per share.
The auto financing company posted revenue of $579.9 million in the period.
For the year, the company reported profit of $423.9 million, or $36.50 per share. Revenue was reported as $2.32 billion.
Credit Acceptance shares have increased almost 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $451.24, a decrease of 14% in the last 12 months.
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