Boston, MA 08/13/2014 (wallstreetpr) – The Avis Budget Group Inc. (NASDAQ:CAR) operates the most-popular vehicle rental industry in the U.S. The company on August 12, 2014 came on the forefront of business news as its shares achieved height in the new 52-week record.
Relation Between Growing Shares And 2Q Result:
After the release of the robust 2Q financial report in August 4, the Avis Budget Group Inc. (NASDAQ:CAR)’s shares keeps on advancing momentum. Yesterday, it witnessed $63.38 before the closing. Avis posted a much better 2Q performance than expected. The revenue grew 10% to almost $2.2 billion, while North America played a significant role. The adjusted EBITDA was also up by 19% and earnings per share saw an upward move of 36%. Well, the GAAP net income was reported to be $26 million, which helped the company to develop a much better estimation for 2014.
North American Business Behind Successful 2Q:
The improved pricing of North American commercial, as well as leisure vehicles, was a firm reason behind the successful quarter. The earnings per share were comfortable beat the estimated figures and reached $0.68 per share. The momentum in Avis’s shares was also influenced by introduction of Payless car and Zip car rentals business.
Launch Of Audi Prestige Series For Singapore:
Couple days back, Avis Car Rental launched the most alluring Audi Prestige Series. It is a vehicle leasing program for Singapore with all top-class Audi models. The cars will be available for leasing all across the Singapore.
Along with Audi Prestige Series, the customers can also lease various Audi models like A3, A4, A6, Q3 1.4 and 2.2, Q5, for a tenure maximum of five years. The rate of leasing is quite reasonable. Moreover, it gives affordable terms and down payment option for everyone.
