CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Sonic Automotive Inc. (SAH) on Thursday reported first-quarter net income of $60.8 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had profit of $1.79. Earnings, adjusted for non-recurring gains, were $1.62 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The auto dealer posted revenue of $3.69 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $3.74 billion.
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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 SAH at https://www.zacks.com/ap/SAH
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