Quantcast
Transport Cars

Avis Budget Narrows Fourth Quarter Loss

Excerpt from Wall Street Journal

Skift Take

With the winnowing and consolidation of car rental companies in the U.S., Avis Budget benefited in the fourth quarter from higher car-rental pricing.

— Dennis Schaal

Avis Budget Group’s fourth-quarter loss narrowed as the car-rental company reported higher sales in North America and markets abroad. Results for the quarter, which also benefited from the company’s acquisition of car-sharing firm Zipcar last year, exceeded Wall Street’s expectations.

Avis posted a fourth-quarter loss of $28 million, or 26 cents a share, compared with a prior-year loss of $46 million, or 43 cents a share. Excluding transaction-related costs, restructuring and other items, Avis reported a profit of 15 cents in the latest quarter, compared with a prior-year loss of seven cents a share. Revenue jumped 8.9% to $1.85 billion.

Read the Complete Story →

More Stories Below ▼
9 Digital Trends We’re Tracking at Skift This Week
Free Report: What Millennials Want in Meetings
3 Aviation Trends We’re Tracking at Skift This Week
Video: How Amsterdam is Rethinking Urban User Experience to Build the City of the Future

Video: How Amsterdam is Rethinking Urban User Experience to Build the City of the Future

Skift Business Traveler: Better Operations Coming From United Airlines
The State of Travel Media 2015
Trend Report

The State of Travel Media 2015