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Benzinga
Benzinga
Business
Adam Eckert

Why Avis Budget Group Stock Is Rising

Avis Budget Group Nasdaq

Avis Budget Group Inc (NASDAQ:CAR) shares are trading higher Tuesday after the company reported strong financial results. 

Avis Budget Group said first-quarter revenue increased 77% year-over-year to $2.4 billion, which beat the $2.11 billion estimate. The company reported quarterly adjusted earnings of $9.99 per share, which was up from a loss of 46 cents per share in the prior year quarter. First-quarter adjusted EBITDA totaled $810 million, according to data from Benzinga Pro.

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