UPDATE 2-Group 1 earnings rise 22 percent; shares up

Newswire

(Recasts, adds share price) DETROIT, Oct 31 (Reuters) - Car dealership chain Group 1 Automotive Inc. on Tuesday posted a 22 percent increase in third-quarter earnings on improved margins and raised its full-year outlook, sending its shares up nearly 10 percent. Earnings rose to $26.4 million, or $1.10 per share, from $21.6 million, or 88 cents per share, a year earlier. Analysts on average had expected $1.03 per share, according to Reuters Estimates. Revenue increased to $1.6 billion ...

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