Posted: Wednesday, July 23rd 2014 at 8:48am
Delta 2Q profit rises 17 percent
By The Associated Press
ATLANTA (AP) -- Delta Air Lines Inc. (DAL) on Wednesday reported earnings that climbed by 17 percent in its second quarter, and topped analysts' expectations.
The Atlanta-based company said net income increased to $801 million, or 94 cents per share, from $685 million, or 80 cents per share, in the same quarter a year ago.
Earnings, adjusted for one-time gains and costs, were $1.04 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The company said revenue climbed 9.4 percent to $10.62 billion from $9.71 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $10.59 billion, according to Zacks.
Delta Air Lines shares have risen $10.21, or 37 percent, to $37.68 since the beginning of the year, while the Standard & Poor's 500 index has increased 7.3 percent. The stock has climbed $17.23, or 84 percent, in the last 12 months.
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