Sonic Automotive posts lower quarterly profit

Newswire

DETROIT, April 25 (Reuters) - Car dealer Sonic Automotive Inc. on Tuesday said quarterly earnings fell, hurt by losses from discontinued operations. The Charlotte, North Carolina, company said first-quarter profit was $17.08 million, or 39 cents a share, down from $17.11 million, or 40 cents a share, a year earlier. Profit from continuing operations was 50 cents per share. On that basis, Wall Street analysts had expected the company to earn 46 cents a share, according to Reuters Estimates.

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