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Hertz Q3 Up On Stronger Travel Demand

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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.