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Avis Budget: 4Q Earnings Snapshot

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PARSIPPANY, N.J. (AP) _ Avis Budget Group Inc. (CAR) on Tuesday reported a fourth-quarter loss of $90 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Parsippany, New Jersey-based company said it had a loss of $1.29. Losses, adjusted for non-recurring costs, came to 36 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.

The car rental company posted revenue of $1.36 billion in the period.

For the year, the company reported a loss of $684 million, or $9.71 per share, swinging to a loss in the period. Revenue was reported as $5.4 billion.

Avis Budget shares have increased 23% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $45.70, a climb of 10% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAR at https://www.zacks.com/ap/CAR