Avis Budget Group (CAR) Shares Jump On Earnings, Revenue Beat
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Avis Budget Group Reports Record Third Quarter Results
October 31, 2022 4:02 PM EDTPARSIPPANY, N.J., Oct. 31, 2022 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) today announced financial results for third quarter 2022.
We ended the quarter with revenues 18% above third quarter 2021, at $3.5 billion, a new quarterly revenue record, surpassing our second quarter 2022 record, driven by continued strong demand and increased revenue per day.
Net income was $1.0 billion and our Adjusted EBITDA was $1.5 billion, our best quarterly net income and Adjusted EBITDA in our history.
Our liquidity position at the end of the quarter was approximately $1.7 billion, with an... More
