PLANO, Texas (AP) _ Rent-A-Center Inc. (RCII) on Wednesday reported second-quarter profit of $38.5 million.
On a per-share basis, the Plano, Texas-based company said it had profit of 70 cents. Earnings, adjusted for non-recurring costs, came to 80 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The company that leases furniture and appliances with an option to buy posted revenue of $683.7 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $607 million.
Rent-A-Center expects full-year earnings in the range of $2.45 to $2.85 per share, with revenue in the range of $2.76 billion to $2.88 billion.
Rent-A-Center shares have risen 10% since the beginning of the year. The stock has increased 26% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RCII at https://www.zacks.com/ap/RCII