Avis Budget CAR shares are trending higher in extended hours trading after reporting strong second quarter results and full year guidance.
Revenue was 3.3 percent higher than the analyst estimate at $2.2 billion versus $2.1 billion. This is a 10 percent increase over the same period last year. North America led the way with an eight percent increase in rental days while the international segment showed a two percent increase.
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EPS of $0.68 was generated during the quarter, beating Wall Street’s consensus by $0.07. The company showed scale with 36 percent year over year earnings growth.
Looking forward, Avis expects full year 2014 revenue in the range $8.6 billion to $8.7 billion generating earnings of $2.75 to $3.05 per share. These compare to $8.5 billion and $2.88 estimates.
Shares of Avis Budget were last trading 4.1 percent higher at $60.50.
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