Cendant Raises 1st-Quarter Outlook
Cendant Corp. said it expects first-quarter earnings to exceed its forecast, aided by increased revenue from its real estate, Avis car rental and Galileo travel services businesses.
The company expects profit to be at least 50% more than the 21 cents a share, excluding special items and the effect of an equity stake in Homestore.com, earned a year earlier.
Cendant said last month it expected earnings of 30 cents a share for the current quarter. Analysts polled by research firm Thomson Financial/First Call were on average expecting earnings of 31 cents.
Cendant shares rose 39 cents to $19.25 on the NYSE.
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