Avis Budget Group Reports Q3 Earnings of $90M
Avis Budget Group, Inc. (NYSE: CAR) today reported results for its third quarter, which ended September 30, 2010. The Company had revenue of $1.5 billion, an increase of 3% versus third quarter 2009, and net income of $90 million, an increase of 58% versus third quarter 2009.
Third quarter Adjusted EBITDA was $219 million compared with $165 million in third quarter 2009, excluding restructuring and transaction-related costs. Net income was $97 million, compared with net income of $69 million in third quarter 2009, excluding restructuring and transaction-related costs. All three of the Company's operating segments reported growth in Adjusted EBITDA and margins.
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