ATLANTA (AP) _ FleetCor Technologies Inc. (FLT) on Thursday reported second-quarter net income of $158.5 million.
The Atlanta-based company said it had net income of $1.83 per share. Earnings, adjusted for one-time gains and costs, came to $2.28 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.16 per share.
The provider of fuel card and payment products for businesses posted revenue of $525.1 million in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $525.8 million.
FleetCor Technologies shares have dropped almost 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $263, a fall of slightly more than 2% 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 FLT at https://www.zacks.com/ap/FLT
Automated Insights, source Associated Press News