BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Wednesday reported first-quarter net income of $51.7 million.

On a per-share basis, the Bloomfield Hills, Michigan-based company said it had profit of 64 cents.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 64 cents per share.

The auto dealership chain posted revenue of $5.01 billion in the period.

Penske shares have dropped 33% since the beginning of the year. The stock has fallen 27% 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