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Avis Budget: Q4 Earnings Snapshot

PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — Avis Budget Group Inc. (CAR) on Wednesday reported a loss of $747 million in its fourth quarter.

On a per-share basis, the Parsippany, New Jersey-based company said it had a loss of $21.25. Losses, adjusted for asset impairment costs, were $6.53 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 29 cents per share.

The car rental company posted revenue of $2.66 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $2.75 billion.

For the year, the company reported a loss of $889 million, or $25.25 per share. Revenue was reported as $11.65 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAR at https://www.zacks.com/ap/CAR

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