AutoNation earnings rise on cost cuts

Newswire

DETROIT, July 24 (Reuters) - AutoNation Inc., the nation's largest new and used vehicle dealer, said on Thursday it's second-quarter profits rose thanks to cost cutting. AutoNation said it earned $106 million, or 37 cents a share, compared with $103.8 million, or 32 cents a share, in the same quarter a year earlier. Revenues rose about 2 percent to $5.1 billion. Analysts had predicted on average earnings of 30 cents a share, according to Reuters Research, a division of Reuters Group Plc.

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