Avis Budget Group Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Avis Budget Group Inc. (CAR) released a profit for its second quarter that increased from the same period last year.

The company's bottom line came in at $62 million, or $0.81 per share. This compares with $26 million, or $0.32 per share, in last year's second quarter.

Excluding items, Avis Budget Group Inc. reported adjusted earnings of $61 million or $0.79 per share for the period.

Analysts had expected the company to earn $0.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.4% to $2.34 billion from $2.33 billion last year.

Avis Budget Group Inc. earnings at a glance:

-Earnings (Q2): $61 Mln. vs. $46 Mln. last year. -EPS (Q2): $0.79 vs. $0.57 last year. -Analysts Estimate: $0.73 -Revenue (Q2): $2.34 Bln vs. $2.33 Bln last year.

-Guidance: Full year EPS guidance: $3.35 - $4.20 Full year revenue guidance: $9.20 - $9.50 Bln