Shares of Avis Budget Group Inc. CAR rose more than 3% in the after-hours session Monday after the car-rental company’s quarterly profit topped Wall Street expectations on strong demand for rentals amid “robust” summer travel. Avis earned $436 million, or $11.01 a share, in the second quarter, down from $774 million, or $15.71 a share, in the year-ago quarter. Revenue fell 4% to $3.1 billion, the company said. Analysts polled by FactSet expected the company to report EPS of $9.45 on sales of $3.
01 a share, in the second quarter, down from $774 million, or $15.71 a share, in the year-ago quarter. Revenue fell 4% to $3.1 billion, the company said. Analysts polled by FactSet expected the company to report EPS of $9.45 on sales of $3.2 billion. Avis ended the quarter with about $1.1 billion in liquidity, and an additional $1.1 billion of fleet funding capacity, it said.