AP NEWS

Credit Acceptance: 4Q Earnings Snapshot

January 30, 2020 GMT

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.

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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 CACC at https://www.zacks.com/ap/CACC