Avis Budget Group Inc. Reveals Fall In Q3 Income, but beats estimates

(RTTNews) - Avis Budget Group Inc. (CAR) revealed earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $627 million, or $16.78 per share. This compares with $1031 million, or $21.67 per share, in last year's third quarter.

Analysts on average had expected the company to earn $14.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.3% to $3.56 billion from $3.55 billion last year.

Avis Budget Group Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $627 Mln. vs. $1031 Mln. last year. -EPS (Q3): $16.78 vs. $21.67 last year. -Analyst Estimates: $14.16 -Revenue (Q3): $3.56 Bln vs. $3.55 Bln last year.