Avis Budget Group Inc. Bottom Line Drops 58% In Q2

(RTTNews) - Avis Budget Group Inc. (CAR) revealed earnings for second quarter that fell compared to the same period last year.

The company said its earnings totaled $25 million, or $0.30 per share. This was lower than $60 million, or $0.63 per share, in last year's second quarter.

Analysts had expected the company to earn $0.58 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue held steady at $2.24 billion

Avis Budget Group Inc. earnings at a glance:

-Earnings (Q2): $25 Mln. vs. $60 Mln. last year. -Earnings Decline (Y-o-Y): -58.3% -EPS (Q2): $0.30 vs. $0.63 last year. -EPS Decline (Y-o-Y): -52.4% -Analysts Estimate: $0.58 -Revenue (Q2): $2.24 Bln vs. $2.24 Bln last year. -Revenue Change (Y-o-Y): 0%

-Guidance: Full year EPS guidance: $2.40 - $2.85 Full year revenue guidance: $8.800 - $8.950 Bln