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CDK Global: Fiscal 1Q Earnings Snapshot

·1 min read

HOFFMAN ESTATES, Ill. (AP) _ CDK Global Inc. (CDK) on Monday reported fiscal first-quarter profit of $55.7 million.

The Hoffman Estates, Illinois-based company said it had net income of 46 cents per share. Earnings, adjusted for one-time gains and costs, were 82 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The provider of technology and marketing services to auto dealers posted revenue of $493.6 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $464.9 million.

CDK Global expects full-year earnings in the range of $3.10 to $3.40 per share, with revenue in the range of $2 billion to $2.05 billion.

CDK Global shares have decreased 19% since the beginning of the year. In the final minutes of trading on Monday, shares hit $44.03, a drop of 13% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDK at https://www.zacks.com/ap/CDK