Avis Budget Group Inc. Q2 Profit Declines, Misses Estimates

(RTTNews) - Avis Budget Group Inc. (CAR) released earnings for second quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $14 million, or $0.41 per share. This compares with $435 million, or $11.01 per share, in last year's second quarter.

Analysts on average had expected the company to earn $2.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.4% to $3.048 billion from $3.123 billion last year.

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

-Earnings (Q2): $14 Mln. vs. $435 Mln. last year. -EPS (Q2): $0.41 vs. $11.01 last year. -Revenue (Q2): $3.048 Bln vs. $3.123 Bln last year.