MEDFORD, Ore. (AP) — MEDFORD, Ore. (AP) — Lithia Motors Inc. (LAD) on Wednesday reported second-quarter profit of $260 million.
On a per-share basis, the Medford, Oregon-based company said it had profit of $11.54. Earnings, adjusted for non-recurring gains, came to $10.03 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $8.67 per share.
The auto dealership chain posted revenue of $9.79 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $9.64 billion.
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