Lithia Motors Inc (LAD) reported Q4 sales of $7.67B, missing analyst consensus of $7.95B. Adjusted EPS was $8.24. Vehicle sales increased, gross margin decreased, and a dividend of $0.50 was approved.
The Nasdaq Composite closed sharply lower by more than 200 points on Friday, after Snap (NYSE: SNAP) reported worse-than-expected Q2 results, announced a reduction in its hiring rate and did not provide guidance.