SOUTHFIELD, Mich. (AP) _ Credit Acceptance Corp. (CACC) on Tuesday reported second-quarter net income of $164.4 million.
On a per-share basis, the Southfield, Michigan-based company said it had net income of $8.68.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $8.49 per share.
The auto financing company posted revenue of $370.6 million in the period.
Credit Acceptance shares have risen 28% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $486.95, a climb of 30% in the last 12 months.