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A Bloomberg columnist recalculated Uber and Lyft's effect on car rental in Certify’s SpendSmart report on ground transportation. When measuring overall dollars spent — not number of expensed trips — the data tells a different story.
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For the second quarter 2018, total revenues were $2.4 billion, a 7% increase versus the second quarter 2017.
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This webcast and conference call can be accessed through a link on the Investor Relations section of the Hertz website.
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A conference call for institutional investors to discuss these results and its full year outlook will be held Aug. 8 at 8:30 a.m. EST.
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This significant increase in Group revenues was supported by the recent acquisitions made by the Group in the last months of 2017.
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In the first quarter of 2018, Hertz Global Holdings reported total revenues of $2.1 billion and decreased net loss by 9% based on an increase in transaction days, a decrease in per-unit depreciation expense, and an increase in pricing excluding ride-hailing rentals.
Read More →Revenue growth was driven by a 5% increase in total rental days and strong pricing.
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Certify's quarterly SpendSmart report shows an increase in ride-hailing use among business travelers, although car rentals and taxis are still holding their ground in certain markets.
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For the third quarter 2017, Hertz Global Holdings Inc. has reported its total revenues as $2.6 billion, a 1% increase year-over-year. CEO Kathryn Marinello is encouraged by Hertz’s process but admits the company still has a lot of work ahead.
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Avis Budget Group has reported revenue of $2.8 billion for its third quarter 2017, a company record. Due to the impact of the hurricanes, the company lowered its full-year earnings forecast.
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