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Hertz reports a profit for second quarter

Jul. 29, 2013

Hertz Global Holdings, Inc., the parent company of Hertz Corp., reported double-digit revenue growth and an increased profit compared to the second quarter of last year.

Hertz, now located in New Jersey, will begin moving its corporate headquarters to a temporary site in Naples in the fall and to a new building in Estero in 2015.

Earnings per share matched analysts' expectations, while quarterly revenues slightly topped their estimates.

The company maintained its earnings and revenue forecast for the full-year 2013.

The company posted net income of $121.4 million or $0.27 per share for the second quarter, higher than $92.9 million or $0.21 per share in the prior-year quarter.

Hertz on Friday closed at $26.89 a share.

Come back to later today for a more detailed report.

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