Hertz shares rally as third-quarter earnings crush expectations
Hertz Global Holdings Inc.'s stock jumped in Thursday's extended session after the car rental company posted quarterly results that exceeded Wall Street's expectations. Hertz reported its third-quarter earnings rose to $141 million, or $1.68 a share, from $93 million, or 93 cents a share, a year earlier. On an adjusted basis, the company would have earned $2.14 a share. Revenue rose 7% to $2.76 billion. Analysts surveyed by FactSet had forecast earnings of $1.77 a share on revenue of $2.68 billion. Shares of Hertz soared 14% after hours. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.