Avis Budget Group Inc. Q2 adjusted earnings Inline With Estimates

(RTTNews) - Avis Budget Group Inc. (CAR) released earnings for its second quarter that increased from the same period last year.

The company's profit came in at $26 million, or $0.32 per share. This compares with $3 million, or $0.04 per share, in last year's second quarter.

Excluding items, Avis Budget Group Inc. reported adjusted earnings of $46 million or $0.57 per share for the period.

Analysts had expected the company to earn $0.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.0% to $2.33 billion from $2.24 billion last year.

Avis Budget Group Inc. earnings at a glance:

-Earnings (Q2): $46 Mln. vs. $25 Mln. last year. -EPS (Q2): $0.57 vs. $0.30 last year. -Analysts Estimate: $0.57 -Revenue (Q2): $2.33 Bln vs. $2.24 Bln last year.

-Guidance: Full year EPS guidance: $3.00 - $3.85 Full year revenue guidance: $9050 - $9300 Mln