11:09 AM EDT, 04/26/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and the first paragraph.)

AutoNation ( AN ) shares rose 10% in recent Friday trading after the automotive retailer posted better-than-expected Q1 adjusted earnings and higher revenue from a year earlier.

The company reported Q1 adjusted earnings of $4.49 per diluted share, down from $6.07 a year earlier.

Analysts polled by Capital IQ expected $4.25.

Revenue for the quarter ended March 31 was $6.49 billion, up from $6.40 billion a year earlier. Analysts surveyed by Capital IQ expected $6.51 billion.

The company said its board approved the buyback of up to an additional $1 billion worth of common shares.

Price: 176.39, Change: +16.01, Percent Change: +9.98