CAR - Avis Budget jumps after strong volume pricing leads to earnings topper

Avis Budget Group ( NASDAQ: CAR ) moved higer in after-hours trading on Monday after smashing profit expectations with its Q2 earnings report .

Revenue was up 37% compared to a year ago to $3.24B during the quarter to and was also 39% higher than the pre-pandemic mark in 2019.

The Americas' business saw its highest adjusted EBITDA tally ever at $1.0B driven by the high demand and strong pricing. Adjusted EBITDA in International was $183M, driven by increased pricing and volume. Total company EBITDA was $1.21B vs. $624M a year ago.

Net income was $774M vs. $398M a year ago.

Shares of CAR gained 4.62% AH to $186.08. The car rental stock still trades below its 100-day and 200-day moving averages.

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