Reported 12 days ago
Hertz Global announced a third-quarter loss of $1 billion, significantly higher than expected, mainly due to elevated depreciation costs from its vehicle fleet. This led to a more than 4% decline in share prices. The company's revenue also fell short of estimates, dropping 5% to $2.58 billion, as it faced challenges from declining used car demand and rising repair costs associated with electric vehicles.
Source: YAHOO