SEATTLE (AP) — SEATTLE (AP) — Alaska Air Group Inc. (ALK) on Wednesday reported a loss of $166 million in its first quarter.
The Seattle-based company said it had a loss of $1.35 per share. Losses, adjusted for one-time gains and costs, were 77 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 72 cents per share.
The airline posted revenue of $3.14 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $3.16 billion.
For the current quarter ending in June, Alaska Air expects its per-share earnings to range from $1.15 to $1.65.
Alaska Air shares have decreased 29% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.18, a rise of slightly more than 2% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALK at https://www.zacks.com/ap/ALK
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