PARSIPPANY, N.J. (AP) _ Avis Budget Group Inc. (CAR) on Monday reported a loss of $170 million in its first quarter.

The Parsippany, New Jersey-based company said it had a loss of $2.43 per share. Losses, adjusted to extinguish debt and for restructuring costs, were 46 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $2.38 per share.

The car rental company posted revenue of $1.37 billion in the period.

Avis Budget shares have more than doubled since the beginning of the year. In the final minutes of trading on Monday, shares hit $89.01, climbing sixfold in the last 12 months.

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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