Avis Budget Group, Inc. (CAR) reported a net loss for the first quarter of $46 million or $0.43 per share, compared to a net loss of $23 million or $0.22 per share for the year-ago quarter.
Excluding items, adjusted net income for the first quarter was $9 million or $0.08 per share, compared to $14 million or $0.12 per share in the prior year quarter.
First quarter revenue grew 4% to $1.69 billion from $1.62 billion a year ago.
Analysts polled by Thomson Reuters expected the company to earn $0.02 per share on revenue of $1.70 billion for the first quarter. Analysts' estimates typically exclude special items.
The company raised its full year 2013 revenue outlook to a range of $7.8 billion to $8.0 billion from its prior outlook of $7.6 billion to $7.8 billion to reflect the March acquisition of Zipcar. Analysts currently expect the company to post revenue of $7.84 billion for the full year 2013.
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