Market Updates
Avis Budget Net Income Soars On Travel Rebound
Scott Peters
02 Aug, 2022
New York City
Avis Budget Group, Inc fell 7.6% to $167.83 after the car rental company said second quarter revenues rose 37% to $3.2 billion and net income soared 94% to $774 million from a year ago.
Diluted earnings per share rose to $15.94 from $5.90 a year ago.
The U.S. segment revenues rose 30% to $2.6 billion and international revenues surged 71% to $677 million from a year ago.
Average daily rental revenue increased 9% in constant currency to $78.19 and vehicle fleet expanded 32% to 500,653 units from a year ago.
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