PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — Avis Budget Group Inc. (CAR) on Monday reported second-quarter net income of $435 million.
The Parsippany, New Jersey-based company said it had profit of $11.01 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $9.79 per share.
The car rental company posted revenue of $3.12 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $3.21 billion.
Avis Budget shares have risen 34% since the beginning of the year. In the final minutes of trading on Monday, shares hit $219.76, a climb of 21% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAR at https://www.zacks.com/ap/CAR
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