October 31, 2012
Car rental company Hertz reported higher quarterly profit on strong travel demand and backed its 2012 outlook.
Third-quarter net income attributable to the company rose to USD$242.9 million, from USD$206.7 million a year earlier.
Revenue rose more than 3 percent to USD$2.51 billion.
The car rental industry, tied closely to airline traffic and hotel bookings, has seen demand strengthening due to recovering business and travel in the United States.
