Avis Budget Stock Price Increases 6% Since Reporting Loss in Q1

Avis Budget Group, Inc. (CAR) reported a loss of $14.35 per share, narrower than the Zacks Consensus Estimate for a loss of$5.72. Notably, it had reported earnings per share (EPS) of $3.21 in the year-ago quarter. Total revenues of$2.4 billion missed the consensus estimate by 3.6% and declined 4.7% year over year.The stock witnessed 5.8% growth since the earnings release on May 7 despite dismal earnings and revenue results.CAR shares have lost 12.8% in the past year compared with the industry’s decline of ...