CDK Global: Fiscal 1Q Earnings Snapshot
HOFFMAN ESTATES, Ill. (AP) _ CDK Global Inc. (CDK) on Wednesday reported fiscal first-quarter net income of $90.3 million.
The Hoffman Estates, Illinois-based company said it had net income of 69 cents per share. Earnings, adjusted for one-time gains and costs, were 89 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The provider of technology and marketing services to auto dealers posted revenue of $554.5 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $563.4 million.
CDK Global expects full-year earnings in the range of $3.70 to $3.80 per share, with revenue in the range of $2.32 billion to $2.35 billion.
CDK Global shares have dropped 20 percent since the beginning of the year. The stock has decreased 11 percent in the last 12 months.