KAR Reports Higher Revenue Featured
09 August 2017
KAR Auction Services Inc. reported revenue of $858 million as compared with revenue of $788.5 million for the second quarter of 2016. Net income for the second quarter decreased to $57.2 million, as compared with net income of $61.8 million in the second quarter of 2016. Net income for the quarter was negatively impacted by $17.3 million resulting from the company's refinancing activities. Adjusted EBITDA for the quarter increased to $223.5 million, as compared with adjusted EBITDA of $197.1 million for the second quarter of 2016.