FORT WORTH, Texas (AP) — FORT WORTH, Texas (AP) — American Airlines Group Inc. (AAL) on Thursday reported a loss of $473 million in its first quarter.
On a per-share basis, the Fort Worth, Texas-based company said it had a loss of 72 cents. Losses, adjusted for non-recurring costs, came to 59 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 69 cents per share.
The world’s largest airline posted revenue of $12.55 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $12.52 billion.
For the current quarter ending in June, American Airlines expects its per-share earnings to range from 50 cents to $1.
American Airlines shares have dropped 46% since the beginning of the year. The stock has fallen 34% 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 AAL at https://www.zacks.com/ap/AAL
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