Avis Budget profit rises, lifted by summer rentals

DETROIT, Nov 6 (Reuters) - Car rental company Avis Budget Group Inc said on Monday that its quarterly net profit rose as strong summer demand in the Americas resulted in longer rentals and higher mileage revenue.

The Parsippany, New Jersey-based company reported a net profit for the third quarter ending Sept. 30 of $245 million or $2.91 per share, up from $209 million or $2.28 a year earlier. Excluding one-time items the company reported earnings per share of $3.10. On that basis analysts had expected earnings per share of $3.04. (Reporting By Nick Carey; Editing by Chris Reese)