United Continental Posts Bigger-Than-Expected Loss, Stock Slides 8% - United Airlines Holdings (NASDAQ:UAL)

Shares of

United ContinentalUAL

are down 8.3 percent to $42.21 after the company reported disappointing earnings. Earnings per share came in at $(1.66) versus an estimated loss of $1.35 by the Street. Revenue was reported in-line at $8.7 billion versus $8.71 billion analyst estimates. Revenue decreased 0.3 percent year-over-year. United Continental revenue breakdown year over year:

Consolidated passenger revenue -- decreased 2.3 percent to $7.4 billion.
Ancillary revenue -- increased 7.6 percent to more than $21 per passenger.
Cargo revenue -- decreased 7.9 percent to $209 million.
Other revenue -- increased 18 percent to $1.1 billion, in large part to an agreement to sell jet fuel to a third party.

Total operating expenses increased by $60 million, a 0.7 percent increase year-over-year. The company expects second quarter adjusted CASM growth between 1.25-2.25 percent, and full year 2014 adjust CASM growth of 1-2 percent. "We recognize that we have lagged on revenue and are taking the necessary actions to remedy that," said Jim Compton, UAL vice chairman and chief revenue officer.

Market News and Data brought to you by Benzinga APIs