Avis Budget beats profit estimates in Q4

Avis Budget Group Inc (NASDAQ: CAR) is trading down in extended hours even though it reported better-than-expected financial results for its fiscal fourth quarter. Why is Avis Budget stock down in after-hours?Copy link to sectionThe stock is in the red perhaps because the company’s liquidity position inched down sequentially in Q4. Avis Budget ended the quarter with over $800 million in liquidity – down from some$1.0 billion three months ago. Still, Joe Ferraro – chief executive of the car rental firm sai ...