Avis Budget Group Inc. Q3 adjusted earnings Miss Estimates

(RTTNews) - Avis Budget Group Inc. (CAR) announced earnings for third quarter that decreased from last year.

The company's earnings totaled $213 million, or $2.68 per share. This compares with $245 million, or $2.91 per share, in last year's third quarter.

Excluding items, Avis Budget Group Inc. reported adjusted earnings of $265 million or $3.33 per share for the period.

Analysts had expected the company to earn $3.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.1% to $2.78 billion from $2.75 billion last year.

Avis Budget Group Inc. earnings at a glance:

-Earnings (Q3): $265 Mln. vs. $260 Mln. last year. -EPS (Q3): $3.33 vs. $3.10 last year. -Analysts Estimate: $3.54 -Revenue (Q3): $2.78 Bln vs. $2.75 Bln last year.