Penske Automotive Group today posted mixed results for the fourth quarter as earnings from continuing operations improved but net income fell.
The company said continuing operations income rose 4.5 percent to $73 million, but net income dropped 2.6 percent to $71.3 million.
Total revenue rose 11 percent in the quarter to $4.9 billion. Wall Street liked the results, pushing Penske Automotive shares up 1 percent to close at $31.36 while the Dow Jones industrial average plunged 1.6 percent for the day. Penske shares remain near 52-week lows after topping out at $54.39 last summer.
