UPDATE: Avis Budget Posts Narrower Q4 Loss
Avis Budget Group (NYSE: CAR) posted a narrower fourth-quarter loss.
Avis Budget posted a quarterly loss of $46 million, or $0.43 per share, versus a year-ago loss of $170 million, or $1.62 per share. Excluding one-time items, it posted an adjusted loss of $0.07 per share.
Its revenue rose 4.2% to $1.7 billion. However, analysts were expecting a loss of $0.07 per share on revenue of $1.63 billion.
Avis Budget shares dropped 2.43% to $22.50 in after-hours trading.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.