Southwest meets 2Q profit forecasts
DALLAS (AP) — Southwest Airlines Co. (LUV) on Thursday reported second-quarter profit of $608 million.
The Dallas-based company said it had net income of 90 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $1.03 per share.
The results matched Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of $1.03 per share.
The airline posted revenue of $5.11 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $5.17 billion.
Southwest shares have declined 17 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 3 percent. The stock has climbed 32 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LUV at http://www.zacks.com/ap/LUV
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