Hertz Global Holdings' total fourth-quarter revenue increased 1.4 percent year over year to $2.3 billion, driven by strength in the U.S. car rental market.
U.S. revenue was up 6 percent year over year to $1.7 billion in the quarter, as transaction days increased 2 percent and pricing was up 4 percent. Both business and leisure rentals saw pricing year-over-year increases during the quarter, according to Hertz.
Outside of the U.S., rental car revenues declined 3 percent year over year to $474 million, with transaction days down 1 percent but pricing up 1 percent. Hertz noted that demand was soft in Europe but that pricing improved both in Europe and the Asia/Pacific region.
Hertz reported a net loss of $118 million for the quarter, compared with a net loss of $101 million in the fourth quarter of 2018. For the full year, Hertz's net loss was $58 million, compared with a $225 million loss in 2018.
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