Avis Budget Group Inc. Q2 Earnings Retreat 33%

(RTTNews) - Avis Budget Group Inc. (CAR) released a profit for second quarter that retreated compared to the same period last year.

The company said its profit fell to $60 million, or $0.63 per share. This was down from $90 million, or $0.84 per share, in last year's second quarter.

Analysts had expected the company to earn $0.69 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.2% to $2.24 billion. This was up from $2.17 billion last year.

Avis Budget Group Inc. earnings at a glance:

-Earnings (Q2): $60 Mln. vs. $90 Mln. last year. -Earnings Decline (Y-o-Y): -33.3% -EPS (Q2): $0.63 vs. $0.84 last year. -EPS Decline (Y-o-Y): -25.0% -Analysts Estimate: $0.69 -Revenue (Q2): $2.24 Bln vs. $2.17 Bln last year. -Revenue Change (Y-o-Y): 3.2%

-Guidance: Full year EPS guidance: $2.90 to $3.30 Full year revenue guidance: $8.75 - $8.9 Bln