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Hertz's shares tumble 23% after fall in value of its cars, revenue

Third-quarter profit of US$1.58 a share misses analysts' average estimate of US$2.73

Washington

HERTZ Global Holdings lost almost a quarter of its market value after the rental-car company reported a third-quarter profit that badly trailed analysts' estimates and cut its annual earnings forecast, blaming a decline in revenue and a drop in the value of its cars.

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