Hertz Global (NASDAQ:HTZ) reported its Q1 results, with EPS coming in at $0.87, beating the Street estimate of $0.83. Revenue was $1.8 billion, compared to the Street estimate of $1.74 billion.

The beat was driven by strong demand, a substantial sequential improvement in monthly RPUs and effective cost management. RPU improved around 26% year-over-year to $1,326, owing to structural improvements and a continued recovery in travel demand.

The company has begun to see the benefit of several partnerships, including favorable Carvana dispositions and strong demand from Uber drivers for Teslas.