ATLANTA (AP) 鈥� ATLANTA (AP) 鈥� Asbury Automotive Group Inc. (ABG) on Tuesday reported second-quarter profit of $114.6 million.
The Atlanta-based company said it had profit of $6.25 per share. Earnings, adjusted for one-time gains and costs, came to $6.82 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $6.30 per share.
The auto dealership chain posted revenue of $4.38 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $4.46 billion.
Asbury Automotive shares have decreased 2.5% since the beginning of the year. The stock has declined almost 5% in the last 12 months.
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