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Credit Acceptance: 2Q Earnings Snapshot

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.


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