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Credit Acceptance: 3Q Earnings Snapshot

SOUTHFIELD, Mich. (AP) _ Credit Acceptance Corp. (CACC) on Friday reported third-quarter earnings of $165.4 million.

On a per-share basis, the Southfield, Michigan-based company said it had net income of $8.73.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $9.13 per share.

The auto financing company posted revenue of $378.7 million in the period.

Credit Acceptance shares have increased 16% since the beginning of the year. In the final minutes of trading on Friday, shares hit $442.04, an increase of 4% 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