Southwest Airlines tops Street 1Q forecasts

DALLAS (AP) — Southwest Airlines Co. on Thursday reported first-quarter earnings of $453 million.

The Dallas-based company said it had profit of 66 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The airline posted revenue of $4.41 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $4.4 billion.

- FWBP Digital Partners -

Southwest shares have increased slightly more than 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 2 percent. The stock has climbed 79 percent in the last 12 months.