Avis Budget Group Inc. Q2 Profit Increases, beats estimates

(RTTNews) - 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.