(Adds Share buyback)
AutoNation Inc. (AN) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings totaled $190.1 million, or $4.49 per share. This compares with $288.7 million, or $6.07 per share, in last year's first quarter.
Analysts on average had expected the company to earn $4.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 1.4% to $6.49 billion from $6.40 billion last year.
Share repurchase
AutoNation announced that the Board of Directors authorized the repurchase of up to an additional $1.0 billion of common stock under its share repurchase program. The firm currently has approximately $1.1 billion under the program.
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