Avis Budget (CAR) Stock Loses 6.7% Despite Q4 Earnings Beat

Avis Budget Group, Inc. (CAR)  reported mixed fourth-quarter 2023 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same.Adjusted earnings of $7.1 per share beat the consensus estimate by 62.8% but plunged 32.1% year over year. Total revenues of $2.76 billion missed the consensus estimate by 1.3% and decreased slightly from the year-ago reported figure.Investors seem to be unimpressed by the earnings beat as shares of CAR declined 6.7% from the date of earning release ...