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Hertz Stock Surges 40% on Return to Profitability Amid Market Downturn

Hertz Stock Surges 40% on Return to Profitability Amid Market Downturn

Author:

Global Cryptocurrency

Published:

2025-11-05 00:51:02

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BTCCSquare news:

Hertz Global Holdings (HTZ) shares skyrocketed 40% to $6.88 on November 4th, defying broader market weakness. The car rental giant reported Q3 earnings of $0.42 per share, obliterating Wall Street's $0.03 forecast and marking its first profitable quarter since 2023.

The turnaround stems from reduced vehicle depreciation costs and improved fleet utilization, which climbed to 84%. Revenue reached $2.48 billion, surpassing analyst expectations by $90 million. CEO Gil West hailed the results as "strong," with the company ending the quarter holding $2.2 billion in cash—a remarkable recovery for the former bankruptcy filer.

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