Hertz: 2Q Earnings Snapshot
ESTERO, Fla. (AP) _ Hertz Global Holdings Inc. (HTZ) on Monday reported a loss of $63 million in its second quarter.
The Estero, Florida-based company said it had a loss of 75 cents per share. Losses, adjusted for non-recurring costs, came to 19 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.
The car rental company posted revenue of $2.39 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $2.32 billion.
Hertz shares have dropped 29 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $15.67, a climb of slightly more than 9 percent in the last 12 months.