Sonic Automotive sees profit jump, earnings meet expectations

Sonic Automotive Inc. (NYSE: SAH) on Tuesday reported net income of $22.8 million, or 50 cents per diluted common share, for the second quarter. That marks a leap from the Charlotte-based automotive dealership chain's earnings of $14.8 million, or 29 cents per share, in the same quarter a year ago. Per-share earnings for the latest period were in line with the average estimate given by analysts. And that's despite a drop in total revenue to $2.38 billion from $2.42 billion a year earlier. "The…

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