(Reuters) – AutoNation Inc, the largest U.S. auto dealership chain, on Friday reported a better-than-expected quarterly profit, boosted by higher gross earnings from its financial services products.
Net income from continuing operations fell to $92.1 million in the first quarter ended March 31, from $93.3 million a year earlier.
The company’s earnings per share from continuing operations rose to $1.02 from $1.01, beating the average analyst estimate of 91 cents per share, according to IBES data from Refinitiv.
Revenue fell 5.3 percent to $4.98 billion, and was below the Wall Street’s expectation of $5.21 billion.
Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli
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