UPDATE 1-Sonic Automotive profit doubles, shares rise 5 pct

Newswire

(Rewrites first paragraph, adds details, stock price) DETROIT, July 31 (Reuters) - Sonic Automotive Inc. , the No. 3 U.S. auto dealership chain, on Tuesday said second-quarter earnings more than doubled on improved profit margins and raised its full-year outlook, pushing its shares up 5 percent. The Charlotte, North Carolina-based company posted net income of $26.37 million, or 57 cents per share, compared with $12.19 million, or 29 cents per share, a year earlier. Earnings from ...

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