UPDATE: Southwest Air Posts Rise In Q3 Profit

Southwest Airlines Co LUV reported a rise in its third-quarter earnings. Its passenger revenue per available seat mile climbed 5.1% in the quarter. Southwest's quarterly earnings surged to $259 million, or $0.37 per share, from $16 million, or $0.02 per share, in the year-ago period. Excluding special items, it earned $0.34 per share. Its operating revenue gained 5.5% to $4.55 billion. However, analysts were expecting a profit of $0.34 per share on revenue of $4.53 billion. Southwest shares gained 3.41% to $16.97 in pre-market trading.