Avis Budget Group Inc. Reports 10% Rise In Q3 Profit

(RTTNews) - Avis Budget Group Inc. (CAR) revealed earnings for its third quarter that rose from last year.

The company said its bottom line came in at $227 million, or $2.47 per share. This was higher than $206 million, or $1.98 per share, in last year's third quarter.

Analysts had expected the company to earn $2.34 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.1% to $2.66 billion. This was up from $2.58 billion last year.

Avis Budget Group Inc. earnings at a glance:

-Earnings (Q3): $227 Mln. vs. $206 Mln. last year. -Earnings Growth (Y-o-Y): 10.2% -EPS (Q3): $2.47 vs. $1.98 last year. -EPS Growth (Y-o-Y): 24.7% -Analysts Estimate: $2.34 -Revenue (Q3): $2.66 Bln vs. $2.58 Bln last year. -Revenue Change (Y-o-Y): 3.1%

-Guidance: Full year EPS guidance: $2.93 Full year revenue guidance: $8.75 Bln