Transport Cars

Zipcar’s Q4 profits triple before its pending acquisition by Avis

Excerpt from WSJ

Feb 18, 2013 1:50 am

Zipcar’s profit more than tripled ahead of its pending acquisition by Avis Budget Group as the car-sharing company recorded strong revenue was also helped by a large tax benefit. For Q4, Zipcar reported a profit of $13.8 million, or 34 cents a share, versus $3.9 million, or nine cents a share, a year earlier. Revenue jumped 12% to $70.7 million, in line with the company’s November prediction of $67 million to $71 million. Avis in January agreed to pay $500 million for Zipcar.

More details in release.

Read the Complete Story →

Tags: , ,

Next Up

More on Skift

Northstar Travel Media Continues Buying Spree, Buys Mountain Travel Symposium
Starwood Extends Mobile Bookings and Inspiration to Google Glass
Skift Trend for 2014: The Rise of Smart Design in Travel
How to Find the ‘Holistic Traveler’ Trapped in Your Data

We're the Moneyball of the Travel Industry

We know what's coming next in travel. Subscribe to the newsletter and get all the goodness in your inbox daily.