GO
Loading...

Hertz Third-Quarter Profit Surges 51%

Reuters
Monday, 29 Oct 2007 | 8:08 AM ET

Hertz Global Holdings said on Monday that an 11 percent increase in worldwide car rental revenues helped drive third-quarter net income up 51 percent.

The company, which also rents equipment, said net income rose to $162.7 million, or 50 cents per share, from $107.5 million, or 46 cents per share, a year earlier.

On an adjusted basis, the company said it earned 65 cents per share.

Analysts were expecting the Park Ridge, New Jersey, company to earn 57 cents per share. Third-quarter revenue rose 9.3 percent to $2.45 billion.

Hertz said it was raising its full-year revenue and adjusted earnings-per-share forecasts to the upper end or above its previous outlook.

  Price   Change %Change
HTZ
---

Featured

Contact Earnings Central

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More