Avis Budget Group Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Avis Budget Group Inc. (CAR) released a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $424 million, or $10.10 per share. This compares with $381 million, or $6.63 per share, in last year's fourth quarter.

Excluding items, Avis Budget Group Inc. reported adjusted earnings of $438 million or $10.46 per share for the period.

Analysts on average had expected the company to earn $6.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.8% to $2.77 billion from $2.57 billion last year.

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

-Earnings (Q4): $424 Mln. vs. $381 Mln. last year. -EPS (Q4): $10.10 vs. $6.63 last year. -Analyst Estimate: $6.79 -Revenue (Q4): $2.77 Bln vs. $2.57 Bln last year.