WASHINGTON (dpa-AFX) - Avis Budget Group, Inc. (CAR) a provider of mobility solutions, Wednesday reported a net loss of $505 million for the first quarter of 2025, widening from a net loss of $114 million in the same period last year. The loss per share was $14.35, compared to $3.21 a year earlier.
Revenues declined slightly to $2.43 billion from $2.55 billion, while total expenses surged to $3.11 billion from $2.69 billion. A sharp increase in vehicle depreciation and lease charges, which rose to $1.06 billion from $636 million, contributed significantly to the quarter's losses.
CAR closed Wednesday's trading at $100.50 up $3.21 or 3.30 percent on the Nasdaq.
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