PARSIPPANY, N.J. (AP) _ Avis Budget Group Inc. (CAR) on Monday reported third-quarter earnings of $675 million.

The Parsippany, New Jersey-based company said it had profit of $10.45 per share. Earnings, adjusted for costs related to mergers and acquisitions and to extinguish debt, were $10.74 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $6.90 per share.

The car rental company posted revenue of $3 billion in the period.

Avis Budget shares have more than quadrupled since the beginning of the year. In the final minutes of trading on Monday, shares hit $171.46, rising fivefold 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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