Lithia Motors: Q2 Earnings Snapshot

MEDFORD, Ore. (AP) — MEDFORD, Ore. (AP) — Lithia Motors Inc. (LAD) on Wednesday reported second-quarter profit of $260 million.

On a per-share basis, the Medford, Oregon-based company said it had profit of $11.54. Earnings, adjusted for non-recurring gains, came to $10.03 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $8.67 per share.

The auto dealership chain posted revenue of $9.79 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $9.64 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 LAD at https://www.zacks.com/ap/LAD