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Avis Budget Group, Inc. (CAR - Free Report) reported mixed second-quarter 2023 results wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same.
Adjusted earnings of $11.01 per share beat the Zacks Consensus Estimate by more than 12.5% but plunged 30.9% year over year. Total revenues of $3.12 billion missed the consensus estimate by 2.7% and declined 3.7% year over year.
Avis Budget has declined 1.1% from the date of earning release, compared with its industry’s 3.7% decrease.
Segmental Revenues
The Americas segment’s revenues of $2.43 billion were down 5% year over year. The figure missed our estimate of $2.46 billion.
The International segment’s revenues of $695 million beat our estimate of $676.7 million and were up 3% year over year.
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