Avis Budget Group Inc. Reports Retreat In Q2 Bottom Line, but beats estimates

(RTTNews) - Avis Budget Group Inc. (CAR) reported earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $436 million, or $11.01 per share. This compares with $774 million, or $15.71 per share, in last year's second quarter.

Analysts on average had expected the company to earn $9.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.7% to $3.12 billion from $3.24 billion last year.

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

-Earnings (Q2): $436 Mln. vs. $774 Mln. last year. -EPS (Q2): $11.01 vs. $15.71 last year. -Analyst Estimates: $9.44 -Revenue (Q2): $3.12 Bln vs. $3.24 Bln last year.