BLOOMFIELD HILLS, Mich. (AP) _ BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Wednesday reported fourth-quarter earnings of $298 million.
The Bloomfield Hills, Michigan-based company said it had net income of $4.21 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.03 per share.
The auto dealership chain posted revenue of $7.01 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $6.38 billion.
For the year, the company reported profit of $1.38 billion, or $18.55 per share. Revenue was reported as $27.81 billion.
