AutoNation’s quarterly profit falls 14 percent

Thomson ReutersVehicles for sale are pictured on the lot at AutoNation Toyota dealership in Cerritos

(Reuters) – AutoNation Inc , the largest U.S. auto dealership chain, reported a 14 percent fall in quarterly profit as costs rose.

The company’s net income fell to $95.9 million, or 89 cents per share, in the first quarter ended March 31 from $111.5 million, or 97 cents per share, a year earlier.

AutoNation earned 90 cents per share from continuing operations.

Revenue rose 3.5 pct to $5.12 billion.

(Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Kirti Pandey)

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