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Penske: 1Q Earnings Snapshot

BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Thursday reported first-quarter profit of $100.2 million.

On a per-share basis, the Bloomfield Hills, Michigan-based company said it had net income of $1.19. Earnings, adjusted for one-time gains and costs, came to $1.25 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.

The auto dealership chain posted revenue of $5.56 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $5.73 billion.

Penske shares have increased 14 percent since the beginning of the year. The stock has climbed 3.5 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 PAG at https://www.zacks.com/ap/PAG