Penske: Q2 Earnings Snapshot

Associated Press Finance
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BLOOMFIELD HILLS, Mich. (AP) — BLOOMFIELD HILLS, Mich. (AP) — Penske Automotive Group Inc. (PAG) on Wednesday reported second-quarter earnings of $300.8 million.

The Bloomfield Hills, Michigan-based company said it had profit of $4.41 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.08 per share.

The auto dealership chain posted revenue of $7.47 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $7.06 billion.

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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

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