Delta Beats 3Q Profit Forecasts
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.
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