BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Wednesday reported fourth-quarter net income of $101.6 million.

On a per-share basis, the Bloomfield Hills, Michigan-based company said it had profit of $1.25.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.

The auto dealership chain posted revenue of $5.88 billion in the period.

For the year, the company reported profit of $435.8 million, or $5.28 per share. Revenue was reported as $23.18 billion.

Penske shares have declined 6% since the beginning of the year. The stock has decreased nearly 1% in the last 12 months.

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

Automated Insights, source Associated Press News