KAR Auction Services, Inc. Q3 Profit Rises 13%

(RTTNews) - KAR Auction Services, Inc. (KAR) released earnings for its third quarter that climbed compared to the same period last year.

The company said its bottom line rose to $78.9 million, or $0.57 per share. This was up from $70.0 million, or $0.50 per share, in last year's third quarter.

Analysts had expected the company to earn $0.50 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 6.8% to $843.0 million. This was up from $789.6 million last year.

KAR Auction Services, Inc. earnings at a glance:

-Earnings (Q3): $78.9 Mln. vs. $70.0 Mln. last year. -Earnings Growth (Y-o-Y): 12.7% -EPS (Q3): $0.57 vs. $0.50 last year. -EPS Growth (Y-o-Y): 14.0% -Analysts Estimate: $0.50 -Revenue (Q3): $843.0 Mln vs. $789.6 Mln last year. -Revenue Change (Y-o-Y): 6.8%

-Guidance: Full year EPS guidance: $2.30 - $2.40