Asbury earnings fall due to cuts in used car chain

Newswire

DETROIT, July 31 (Reuters) - Auto dealer Asbury Automotive Group Inc. on Thursday posted lower quarterly earnings as the costs of a discontinued used car chain offset higher revenue from sales of new and used vehicles. The Stamford, Connecticut-based company said second-quarter net earnings fell to $12.3 million, or 38 cents per share, from $12.8 million, or 37 cents per share, in the year-ago quarter. Wall Street analysts had expected earnings of 37 cents to 43 cents a share, with an ...

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