KAR Auction Services, Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - KAR Auction Services, Inc. (KAR) revealed earnings for its second quarter that increased from last year.

The company's profit came in at $93.2 million, or $0.69 per share. This compares with $57.2 million, or $0.41 per share, in last year's second quarter.

Excluding items, KAR Auction Services, Inc. reported adjusted earnings of $111.8 million or $0.82 per share for the period.

Analysts had expected the company to earn $0.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.5% to $956.6 million from $858.0 million last year.

KAR Auction Services, Inc. earnings at a glance:

-Earnings (Q2): $111.8 Mln. vs. $90.6 Mln. last year. -EPS (Q2): $0.82 vs. $0.65 last year. -Analysts Estimate: $0.80 -Revenue (Q2): $956.6 Mln vs. $858.0 Mln last year.

-Guidance: Full year EPS guidance: $2.89 - $3.04