UPDATE: JetBlue Q2 Profit Matches Estimates

JetBlue Airways

reported in-line earnings for the second quarter. The Long Island City, New York-based company posted a quarterly profit of $230 million, or $0.68 per share, versus a year-ago profit of $36 million, or $0.11 per share. The latest quarter results included a $242 million gain from the sale of its wholly-owned subsidiary LiveTV. Excluding special items, the company's earnings rose to $0.19 per share from $0.11 per share. Its revenue climbed 12% to $1.49 billion. However, analysts were expecting a profit of $0.19 per share on revenue of $1.51 billion. Revenue passenger miles rose 5.7% to 9.6 billion, while capacity increased 6.0%. Load factor dropped 0.3 points y/y to 84.6%. Passenger revenue per available seat mile surged 6.0% to 12.05 cents, while operating revenue per available seat mile rose 5.6% to 13.12 cents. "Today, we are pleased to report record second quarter earnings and our seventeenth consecutive quarter of profitability," said Dave Barger, JetBlue's Chief Executive Officer. JetBlue shares fell 1.09% to $11.16 at 10:10 a.m. ET.