Avis Budget Group’s second-quarter profit jumped 52% from a year earlier on last year’s acquisition of Avis Europe and higher rental volume in North America.
Avis Budget, which acquired Avis Europe for about $1 billion last October, said revenue surged 32% to $1.87 billion.
Excluding the effects of the acquisition, Avis Budget’s total revenue increased 3%, as a 5% increase in rental days more than offset the effects of a 3% drop in average daily rate. North America revenue was up 3%.
Avis Budget's net income increased to $79 million from $52 million a year earlier. Follow Danny King on Twitter @dktravelweekly.