AutoNation posts lower quarterly earnings

Newswire

DETROIT, July 27 (Reuters) - Car dealership group AutoNation Inc. on Thursday posted a 63 percent drop in second-quarter net earnings, partly due to higher interest expense and a large one-time tax gain that was recorded in the previous year. The largest U.S. automotive retailer said net income fell to $72.7 million, or 33 cents per share, from $194.8 million, or 73 cents per share, a year earlier. Last year's results included a benefit of 36 cents per share from the resolution of ...

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