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CDK Global: Fiscal 2Q Earnings Snapshot

HOFFMAN ESTATES, Ill. (AP) _ CDK Global Inc. (CDK) on Tuesday reported fiscal second-quarter earnings of $22.3 million.

The Hoffman Estates, Illinois-based company said it had net income of 18 cents per share. Earnings, adjusted to account for discontinued operations and pretax expenses, were 80 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 80 cents per share.

The provider of technology and marketing services to auto dealers posted revenue of $499.6 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $492.3 million.

CDK Global expects full-year earnings in the range of $3.30 to $3.50 per share, with revenue in the range of $2 billion to $2.05 billion.

CDK Global shares have increased 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $55.91, an increase of 13% in the last 12 months.


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