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Credit Acceptance: Q4 Earnings Snapshot

SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Credit Acceptance Corp. (CACC) on Thursday reported fourth-quarter profit of $122 million.

The Southfield, Michigan-based company said it had net income of $10.99 per share. Earnings, adjusted for non-recurring costs, were $11.35 per share.

The auto financing company posted revenue of $579.9 million in the period.

For the year, the company reported profit of $423.9 million, or $36.50 per share. Revenue was reported as $2.32 billion.

Credit Acceptance shares have increased almost 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $451.24, a decrease of 14% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CACC at https://www.zacks.com/ap/CACC

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