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Stock impact report

Avis Budget shares tumble 15 percent after cutting full-year revenue forecast [CNBC]

Avis Budget Group, Inc. (CAR) 
Last avis budget group, inc. earnings: 2/19 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.avisbudgetgroup.com
Company Research Source: CNBC
Patrick T. Fallon | Bloomberg | Getty Images A passenger boards an Avis shuttle bus at Los Angeles International Airport. Avis Budget shares dropped on Wednesday after reporting a full-year revenue forecast below estimates. Shares of the rental car company fell 15.2 percent at $32.86 per share after the company said it expects full-year revenue between $9.05 billion and $9.3 billion. Analysts were expecting revenue of $9.27 billion for the year, according to Thomson Reuters. Avis Budget said costs of launching recent partnerships could affect profit in the remainder of the year. On Monday, Avis Budget announced a multiyear deal with ride-share company Lyft that would allow North American Lyft Express drivers to use Avis vehicles rather than purchasing and using their own vehicles. The program is expected to make thousands of Avis cars available starting in the next few months. The company gave a full-year earnings outlook of between $3.00 a Show less Read more
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