Thursday, October 21, 2021
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Southwest beats Street 3Q forecasts

🕐 1 min read

DALLAS (AP) — Southwest Airlines Co. on Thursday reported third-quarter net income of $584 million.

On a per-share basis, the Dallas-based company said it had net income of 88 cents. Earnings, adjusted for non-recurring costs, were 94 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.

The airline posted revenue of $5.32 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $5.1 billion.

Southwest shares have dropped 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined almost 2 percent. The stock has risen 19 percent in the last 12 months.

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