JetBlue Airways JBLU 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in