PARSIPPANY, N.J. (AP) 鈥� PARSIPPANY, N.J. (AP) 鈥� Avis Budget Group Inc. (CAR) on Wednesday reported a loss of $283 million in its first quarter.
The Parsippany, New Jersey-based company said it had a loss of $8.01 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $6.83 per share.
The car rental company posted revenue of $2.53 billion in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $2.44 billion.
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