Delta Beats 3Q Profit Forecasts

ATLANTA (AP) -
A Delta Connection jet takes off at the Greater Cincinnati Northern Kentucky International Airport in Hebron, Ky. (AP Photo/Al Behrman, File)
A Delta Connection jet takes off from the Greater Cincinnati Northern Kentucky International Airport in Hebron, Ky. (AP Photo/Al Behrman, File)

Delta Air Lines Inc. on Thursday reported a third-quarter profit of $1.26 billion.

On a per-share basis, the Atlanta-based company said it had profit of $1.69. Earnings, adjusted for nonrecurring costs, came to $1.70 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.

The airline posted revenue of $10.48 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $10.59 billion. Delta shares have declined 23 percent since the beginning of the year, while Standard & Poor’s 500 index has risen roughly 5 percent. The stock has declined 19 percent in the last 12 months.