Shares of Penske Automotive Group (NYSE: PAG) tumbled 5.13% in Wednesday's intraday trading session, despite the company reporting better-than-expected first-quarter earnings. The sharp decline suggests investors may be focusing on other aspects of the financial results, including a slight revenue miss.

Penske reported first-quarter earnings of $3.39 per share, surpassing the average analyst estimate of $3.27 per share. However, the company's revenue of $7.60 billion fell short of the expected $7.69 billion. This mixed result appears to have disappointed investors, leading to the significant stock price drop.

While Penske's earnings beat is typically a positive sign, the revenue miss and potential concerns about the company's future outlook may be overshadowing the good news. Investors might be worried about the sustainability of Penske's growth in the face of economic uncertainties and potential headwinds in the automotive industry. As the trading session progresses, market participants will likely continue to digest the full implications of Penske's Q1 results and their impact on the company's future prospects.