November 7, 2016 / 10:57 PM / a year ago

Hertz's quarterly profit slumps 82.2 pct

Nov 7 (Reuters) - Car rental company Hertz Global Holdings Inc reported a 82.2 percent fall in quarterly profit as total expenses rose, sending its shares down 25 percent in extended trading on Monday.

The company’s net income fell to $42 million, or 49 cents per share, in the third quarter ended Sept. 30 from $237 million, or $2.60 per share, a year earlier.

Excluding items, the company earned $1.58 per share.

Total expenses rose 5 percent to $2.43 billion.

Hertz’s revenue fell to $2.54 billion from $2.58 billion.

Reporting by Radhika Rukmangadhan in Bengaluru

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