Avis Budget Group Inc. Q2 Profit Increases, beats estimates

Avis Budget Group Inc. (CAR) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $774 million, or $15.71 per share. This compares with $398 million, or $5.63 per share, in last year's second quarter.

Excluding items, Avis Budget Group Inc. reported adjusted earnings of $790 million or $15.94 per share for the period.

Analysts on average had expected the company to earn $11.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 36.7% to $3.24 billion from $2.37 billion last year.

Avis Budget Group Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $774 Mln. vs. $398 Mln. last year.
-EPS (Q2): $15.71 vs. $5.63 last year.
-Analyst Estimate: $11.48
-Revenue (Q2): $3.24 Bln vs. $2.37 Bln last year.

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