Avis Budget quarterly loss narrows

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SAN FRANCISCO (MarketWatch) -- Avis Budget Group Inc. said late Wednesday its fourth-quarter loss narrowed to $24 million, or 23 cents a share, from a loss of $49 million, or 47 cents a share, in the same period last year. Excluding certain items, the rental car company would have reported a loss of 6 cents a share in the latest quarter. Revenue rose to $1.23 billion from $1.16 billion a year ago. Analysts surveyed by FactSet Research estimated a loss of 6 cents a share on revenue of $1.19 billion.

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