Delta Air Lines, Inc. shares rose nearly 5% on Thursday – and jumped a further 1.5% in early hours on Friday – after the company reported better-than-expected fourth quarter financial results. Revenue rose 8.4% to $10.25 billion – beating consensus estimates by $90 million – and net income of $0.96 per share beat consensus estimates by seven cents per share. The company also boosted its guidance for the full year due to tax reform.
The move came a few days after American Airlines Group Inc. and United Continental Holdings, Inc. (UAL) reported better-than-expected unit revenue for the fourth quarter. For its part, Delta reported passenger unit revenue that jumped 4.2% during the quarter, as well as cargo revenue that rose 14.4%. Management plans to continue boosting its top line by 4% to 6% while improving its cost trajectory and integrating its partner network. (See also: Delta Posts Fourth Quarter and 2016 Earnings.)
Delta shares moved sharply higher on fourth quarter financial results, but traders will be watching these key levels ahead. …read more
Read more here: Delta Air Lines Breaks Out After Topping Estimates
Category: DAL, AAL