Credit Acceptance Q3 Profit Rises

(RTTNews) - Credit Acceptance Corp. (CACC) Wednesday reported third-quarter net income of $65.1 million or $2.75 per share, compared to $52.9 million or $2.12 per share last year.

On average, six analysts polled by Thomson Reuters expected the company to report profit of $2.59 per share for the quarter.

Adjusted net income rose to $64.5 million or $2.72 per share, compared to $55.6 million or $2.23 per share last year.

Total revenues for the quarter rose to $172.7 million from $155.7 million last year. Analysts estimated revenues of $169.82 million for the quarter.