AutoNation (NYSE: AN) reported Tuesday that it is raising its first-quarter profit forecast above analyst expectations, according to Associated Press.
The company says it now expects earnings from continuing operations of 32 cents to 35 cents per share, which is higher than the 29 cents to 32 cents it forecast last week.
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It still expects revenue of about $2.8 billion
Analysts surveyed by Thomson Reuters expect 31 cents per share on $2.75 billion in sales. Such estimates typically exclude one-time items.
Shares rose 47 cents, or 2.1 percent, to $18.31 in afternoon trading on Tuesday.
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