Why Kar Auction Services Stock Popped 11% Today

Shares of Carmel, Indiana-based Kar Auction Services (NYSE: KAR), which provides -- spoiler alert! -- auction services to the used car industry, reported bang-up earnings last night. Adjusted earnings that were expected to be no more than $0.02 per share came in at a strong $0.11 per share instead, and sales of $549.4 million easily beat analyst predictions of $511.7 million for the fourth quarter of 2021.  

As of 10:30 a.m. ET, Kar stock is up 10.8% in response.

Image source: Getty Images.

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Source Fool.com