SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Credit Acceptance Corp. (CACC) on Tuesday reported first-quarter earnings of $135.8 million.
On a per-share basis, the Southfield, Michigan-based company said it had net income of $12.40. Earnings, adjusted for non-recurring gains, came to $10.71 per share.
The auto financing company posted revenue of $580 million in the period.
Credit Acceptance shares have increased 19% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $525.67, a rise of 6% in the last 12 months.
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