UPDATE 1-UnitedAuto earnings hurt by accounting change

Newswire

(Adds new details throughout) DETROIT, April 28 (Reuters) - Auto dealership group UnitedAuto Group Inc. on Monday reported a 15 percent drop in quarterly earnings due to an accounting change. UnitedAuto said it earned $13.7 million, or 34 cents per share, in the first quarter, down from a profit of $15.7 million, or 40 cents per share, in the year-ago quarter. However, excluding the accounting change, the company earned $16.8 million or 41 cents per share, above Wall Street estimates. ...

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