RTTNews | Nov 3, 2020 09:25PM EST

21:24 Tuesday, November 3, 2020 (RTTNews.com) - KAR Auction Services Inc. (KAR) reported that its third-quarter net income was $47.1 million or $0.23 per share, compared to $35.3 million or $0.27 per share in the third quarter of 2019.

Operating adjusted net income from continuing operations per share increased 29% to $0.45 from $0.35 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.28 per share. Analysts' estimates typically exclude special items. Quarterly revenue was $593.6 million, a decrease of 15% from $701.9 million in the prior year. Analysts expected revenue of $646.43 million for the quarter.

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