Credit Acceptance (CACC) Gains on Q4 Earnings Beat, Revenue Rise

Shares of Credit Acceptance Corporation (CACC) gained 2.4% in the after-market trading following the release of its fourth-quarter and 2023 results. Quarterly earnings of $7.29 per share surpassed the Zacks Consensus Estimate of$4.52 by a significant margin. However, the bottom line reflects a 23.9% fall from the prior-year quarter. These figures include certain non-recurring items.Results were aided by an improvement in GAAP revenues and consumer loan assignment volumes. However, higher operating expenses ...