Credit Acceptance: 4Q Earnings Snapshot
SOUTHFIELD, Mich. (AP) _ Credit Acceptance Corp. (CACC) on Thursday reported fourth-quarter profit of $161.9 million.
The Southfield, Michigan-based company said it had profit of $8.60 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $8.96 per share.
The auto financing company posted revenue of $385.9 million in the period.
For the year, the company reported profit of $656.1 million, or $34.57 per share. Revenue was reported as $1.49 billion.
Credit Acceptance shares have climbed 5.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $466.84, a rise of 13% in the last 12 months.