Cendant Posts Profit, Helped by Acquisitions
From Bloomberg News
Cendant Corp., a provider of travel and real estate services, swung to a profit in the fourth quarter, helped by acquisitions of residential brokerages and car rental company Budget Group Inc.
The New York-based company’s net income was $247 million, or 24 cents a share, contrasted with a year-earlier loss of $307 million, or 31 cents. Revenue rose 49% to $3.85 billion.
Cendant fell 14 cents to $10.56 on the NYSE.
