: AutoNation’s stock up 2% premarket after earnings fall but beat consensus estimates

AutoNation Inc.’s stock AN rose 2% in premarket trade Friday, after the new and used car retailer posted better-than-expected second-quarter earnings. Fort Lauderdale, Fla.-based AutoNation posted net income of $272.5 million, or $6.02 a share for the quarter, down from $376.3 million, or $6.48 a share, in the year-earlier period. Adjusted per-share earnings came to $6.29, comfortably ahead of the $5.91 FactSet consensus. Revenue rose to $6.890 billion from $6.869 billion a year ago, also ahead of the $6.779 billion FactSet consensus. Consumer demand for personal vehicle ownership remains strong, the company said in a statement. The stock has gained 65% in the year to date, while the S&P 500 SPX has gained 18%.

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