SEATTLE (AP) — SEATTLE (AP) — Alaska Air Group Inc. (ALK) on Wednesday reported second-quarter net income of $172 million.
On a per-share basis, the Seattle-based company said it had profit of $1.42. Earnings, adjusted for non-recurring costs, were $1.78 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
The airline posted revenue of $3.7 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $3.66 billion.
Alaska Air shares have declined 17% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $53.88, an increase of 42% 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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