UPDATE: Delta Posts Decline In Q1 Profit

Delta Air Lines

reported a drop in its first-quarter profit. Delta's quarterly net income fell to $7 million, or $0.01 per share, from $124 million, or $0.15 per share, in the year-ago period. Its operating revenue climbed 1% to $8.5 billion, while expenses climbed 3%. Excluding one-time items, Delta earned $0.10 per share. Delta shares dropped 2.84% to $14.71 in pre-market trading.