Credit Acceptance: Q4 Earnings Snapshot

SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Credit Acceptance Corp. (CACC) on Wednesday reported fourth-quarter profit of $93.6 million.

The Southfield, Michigan-based company said it had net income of $7.29 per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $4.52 per share.

The auto financing company posted revenue of $491.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $478.8 million.

For the year, the company reported profit of $286.1 million, or $21.99 per share. Revenue was reported as $1.9 billion.

Credit Acceptance shares have risen slightly more than 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $540, an increase of 17% 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