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Why Avis Budget Stock Crashed Today

Rich Smith, The Motley Fool
·2-min read

Yesterday after close of trading, car rental company Avis Budget Group (NASDAQ: CAR) reported a blowout quarter in which sales of $3.2 billion grew 37% year over year, beating analyst projections, and earnings blew the roof off, coming in at $15.94 per share while Wall Street had only expected $11.48. Avis Budget shares immediately jumped 6% in after-hours trading. Coming out of the pandemic, you'd want to see things getting at least a bit better for Avis this year, but the company's actual results were even more than investors had hoped for.

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