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Actionable news in KAR: KAR AUCTION SERVICES Inc,

KAR Auction (KAR) Stock Closed Down on Q3 Earnings Miss

NEW YORK (TheStreet) -- Shares of KAR Auction Services (KAR) closed lower by 7.37% to $38.94 on heavy trading volume on Friday as the company reported lower-than-expected earnings for the 2016 third quarter after yesterday's market close.

KAR Auction Services posted adjusted net income of 50 cents per share, falling short of Wall Street's expected 53 cents per share.

Revenue came in at $773.8 million, above analysts' projected $768.6 million.

KAR Auction also backed its full-year adjusted net income forecast of...


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