AutoNation Quarterly Profit Rises as Sales Outpace Industry
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AutoNation Inc., the largest U.S. retailer of new cars and trucks, reported quarterly profit that rose 13 percent as its sales outpaced an industry on track for its best year since 2007.
Third-quarter net income increased to $92.6 million from $81.6 million a year earlier, the Fort Lauderdale, Florida-based company said today in a statement. Profit from continuing operations climbed 14 percent to 75 cents a share, trailing the 77-cent average estimate of 12 analysts surveyed by Bloomberg. Sales increased 14 percent to $4.47 billion.