PARSIPPANY, N.J. (AP) _ Avis Budget Group Inc. (CAR) on Tuesday reported a second-quarter loss of $481 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Parsippany, New Jersey-based company said it had a loss of $6.91. Losses, adjusted for non-recurring costs and restructuring costs, came to $5.60 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $5.58 per share.

The car rental company posted revenue of $760 million in the period.

Avis Budget shares have declined 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.60, a decrease of 24% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAR at https://www.zacks.com/ap/CAR

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