FORT WORTH, Texas (AP) – American Airlines Group Inc. (AAL) on Friday reported second-quarter profit of $950 million.
The Fort Worth, Texas-based company said it had net income of $1.68 per share. Earnings, adjusted for one-time gains and costs, came to $1.77 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.
The world’s largest airline posted revenue of $10.36 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $10.31 billion.
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American Airlines shares have fallen 17 percent since the beginning of the year. The stock has dropped 15 percent in the last 12 months.