UPDATE: JetBlue Q4 Profit Tops Expectations

reported upbeat earnings for the fourth quarter. The Long Island City, New York-based company posted a quarterly net profit of $88 million, or $0.26 per share, versus a year-ago profit of $47 million, or $0.14 per share. Its revenue climbed 5.9% to $1.45 billion. However, analysts were expecting earnings of $0.24 per share $1.45 billion. Operating income rose to $169 million from $115 million, while operating expenses gained 2.1%. JetBlue's realized fuel price shrank 13% to $2.70 per gallon. Its load factor widened to 82.1% from 80.9%. The company ended the quarter with around $708 million in unrestricted cash and short term investments. "Today's results drive strong cash from operations allowing us to continue to strengthen our balance sheet while growing profitably," said Mark Powers, JetBlue's Chief Financial Officer. "This remains our focus and will help us generate ever increasing shareholder value." JetBlue shares rose 0.06% to $15.78 in pre-market trading.