UPDATE 1-Penske earnings rise, helped by used-auto sales

Newswire

NEW YORK, April 29 (Reuters) - International automotive retailer Penske Automotive Group Inc said on Tuesday quarterly earnings rose sharply, beating analyst estimates on strong sales of used cars. Net earnings more than doubled to $33.9 million, or 36 cents per share, from $14.6 million, or 15 cents, in the same quarter a year ago. On an adjusted basis, the company earned $33.8 million, also 36 cents per share, up from $26.9 million, or 28 cents, a year earlier, when the company took ...

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