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Lithia & Driveway Q2 Adjusted Earnings, Revenue Rise; Dividend Raised

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Lithia & Driveway (LAD) reported Q2 adjusted earnings Wednesday of $10.03 per diluted share, up from $9.20 a year earlier.

Analysts surveyed by FactSet expected $8.73.

Revenue for the quarter ended June 30 was $9.79 billion, up from $9.58 billion a year earlier.

Analysts expected $9.64 billion.

The company also said it raised its quarterly dividend by 23% to $0.70 a share, payable Aug. 21 to holders of record Aug. 7.

Shares of the company were up more than 4% in Wednesday premarket activity.

Price: $375.40, Change: $+17.08, Percent Change: +4.77%

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