Credit Acceptance: 4Q Earnings Snapshot

SOUTHFIELD, Mich. (AP) _ Credit Acceptance Corp. (CACC) on Wednesday reported fourth-quarter net income of $151.9 million.

The Southfield, Michigan-based company said it had profit of $7.79 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $7.02 per share.

The auto financing company posted revenue of $342.8 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $324.3 million.

For the year, the company reported profit of $574 million, or $29.39 per share. Revenue was reported as $1.29 billion.

Credit Acceptance shares have risen 8.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $414.37, an increase of 14 percent 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 CACC at https://www.zacks.com/ap/CACC