Delta Air Lines (DAL) Beats 2nd Quarter Estimates

Atlanta, Georgia based Delta Air Lines Inc

on Monday morning released financial results that exceeded Wall Street earnings expectations. Delta Air Lines (

) reported that it swung to 2nd quarter net income of $467 million, or 55 cents per share, from a loss of $257 million, or 31 cents per share, a year earlier. Excluding special items, the company reported net income of $549 million, or 65 cents per share. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 63 cents per share, on revenue of $8.27 billion. Delta Air Lines also forecast that its 3rd quarter operating margin would be in the range of 10% to 12%. Chief executive officer Richard Anderson commented on the results by saying that "Delta's profit this quarter is our best result in a decade and proof that our plan has positioned us well as the economy begins its recovery." Shares of DAL fell 2.41% to $11.72 per share on Friday, before rising slightly during after hours trading. Analysts covering the stock have a consensus price target of $17.46 per share. Read more