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CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Sonic Automotive Inc. (SAH) on Thursday reported first-quarter profit of $70.6 million.
The Charlotte, North Carolina-based company said it had net income of $2.04 per share. Earnings, adjusted for one-time gains and costs, came to $1.48 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The auto dealer posted revenue of $3.65 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $3.54 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 SAH at https://www.zacks.com/ap/SAH