Avis Budget Group Trading Higher In After Hours Despite Quarterly Sales Miss
Portfolio Pulse from Ryan Gustafson
Avis Budget Group, Inc (NASDAQ:CAR) reported Q2 earnings of $11.01 per share, a decrease from $15.71 per share last year. Quarterly sales were $3.12 billion, missing the analyst consensus estimate of $3.19 billion. Despite the sales miss, CAR shares were trading higher in after-hours session. The company's liquidity position at the end of the quarter was $1.1 billion, with an additional $1.1 billion of fleet funding capacity.
July 31, 2023 | 9:17 pm
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Avis Budget Group's Q2 earnings per share decreased and sales missed analyst estimates. However, the stock is trading higher in after-hours, indicating positive investor sentiment.
Despite the sales miss and decrease in earnings per share, Avis Budget Group's stock is trading higher in after-hours. This suggests that investors may be focusing on other aspects of the company's performance, such as its strong liquidity position.
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