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SOUTHFIELD, Mich. (AP) _ Credit Acceptance Corp. (CACC) on Tuesday reported fourth-quarter profit of $127.3 million.
The Southfield, Michigan-based company said it had profit of $9.58 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $7.71 per share.
The auto financing company posted revenue of $459 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $436.4 million.
For the year, the company reported profit of $535.8 million, or $39.32 per share. Revenue was reported as $1.83 billion.
Credit Acceptance shares have fallen slightly more than 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $463.38, a decrease of 14% 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 CACC">Zacks stock report on CACC at https://www.zacks.com/ap/CACC