Hertz shares climb 10% after third-quarter earnings beat

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Hertz Global Holdings Inc.












HTZ, -4.67%










shares shot up in the extended session Thursday after the company beat Wall Street earnings estimates. Hertz stock surged 10% to $22.05 after hours. The company reported third-quarter net income of $93 million, or $1.12 a share, compared with $44 million, or 52 cents a share, in the year-ago period. Adjusted earnings were $1.42 a share. Revenue rose to $2.57 billion from $2.54 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $1.35 a share on revenue of $2.57 billion. For the fourth quarter, analysts model adjusted losses of 63 cents a share on revenue of $2.05 billion. Hertz stock has fallen 7.2% this year, with the S&P 500 index












SPX, -0.38%










rising 16%.

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