Kar Auction Services (KAR) Misses Q2 EPS by 1c

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KAR Auction Services, Inc. Reports Second Quarter 2016 Financial Results

August 2, 2016 4:16 PM EDT

CARMEL, Ind., Aug. 02, 2016 (GLOBE NEWSWIRE) -- KAR Auction Services, Inc. (NYSE: KAR), today reported its second quarter financial results for the period ended June 30, 2016. For the second quarter of 2016, the company reported revenue of $771.8 million as compared with revenue of $658.3 million for the second quarter of 2015, an increase of 17%. Net income for the second quarter of 2016 increased 4% to $61.8 million, or $0.44 per diluted share, as compared with net income of $59.5 million, or $0.41 per diluted share, in the second quarter of 2015. Adjusted EBITDA for the quarter ended June 30, 2016 increased 16% to $197.1 million, as compared with... More