Shares of Delta Air Lines, Inc. (NYSE:DAL) are up in early trading after the airline giant delivered a third-quarter earnings report that eclipsed analyst expectations.
CNBC has the details on Delta’s solid quarter.
Delta Air Lines’ third-quarter profits topped Wall Street’s expectations, as strong travel demand boosted revenues while the carrier’s fuel bill surged during the busy summer travel season.
The second-largest U.S. airline said Thursday its net income in the three months ended Sept. 30 rose 13 percent from a year earlier to $1.31 billion, on revenue of $11.95 billion, which increased 8 percent.
Analysts were expecting the company to reported an adjusted EPS of $1.74, but the company reported $1.80. Delta notes that fuel costs have spiked, but the company still expects to meet its full-year profit goals.
Delta Air Lines, Inc. shares rose $1.39 (+2.80%) in premarket trading Thursday. Year-to-date, DAL has declined -9.58%, versus a 5.65% rise in the benchmark S&P 500 index during the same period.