AutoNation Q3 misses estimates, shares off 7 percent
Related
Top Stories
- Trouble mounts for Sreesanth as Mumbai cops gather more evidence
- SIT to seek Supreme Court guidance on Maya Kodnani death penalty issue
- Tamil Nadu police bans Yasin Malik-linked pro-Eelam public meeting
- Kings XI Punjab end IPL 2013 campaign with a win
- Narendra Modi: India losing sheen as agricultural nation
AutoNation Inc, the largest U.S. automotive retailer, posted slightly lower than expected third-quarter earnings and revenue on Thursday and its shares fell more than 7 percent.
The dealership group reported net income of $82 million or 66 cents per share, compared with $71 million or 48 cents per share a year ago. Analysts, on average, had expected the company to earn 67 cents per share, according to Thomson Reuters I/B/E/S.
Revenue came in at $3.93 billion, slightly short of the $3.95 billion that analysts had expected. In an interview, Chief Executive Mike Jackson said the earnings miss was due to AutoNation buying back fewer shares than expected.
AutoNation shares were down more than 7 percent to $44.62. Shares of other dealership groups, including Group 1 Automotive Inc, and Lithia Motors Inc, were also lower.
Piramal Enterprises to sell its full 11% stake in Vodafone
ArcelorMittal reports first quarter loss at $450 million
Supreme Court sets aside Orissa HC order on iron ore licence to Posco
UK lawmakers set date for Google, Ernst & Young tax grillingEditors’ Pick
- Quake-hit and shaken, Bhaderwah spends nights in the open
- UP blast accused dies on way to jail, govt wanted to drop case against him
- Former civil aviation secy changes mind, seeks airport security exemption as EC
- BCCI suspects Gujarat players in other teams were also approached
- Police on money trail, Sreesanth in fresh trouble
- Chhattisgarh 'encounter' leaves 8 villagers dead, no Maoist link yet
- Li arrives today, PM to seek early revival of border talks
