Delta Air Lines posted fourth-quarter earnings on Tuesday that topped analysts’ highest profit estimate.
The airline also beat expectations for quarterly revenue and posted a 2.4% gain for revenue per available seat mile.
Delta shares surged as much as 4.5% on the news.
The company’s domestic revenue grew more than any other regional business, hinting its bet on increased US travel is paying off.
Watch Delta Air Lines trade live here.
Delta Air Lines reported fourth-quarter earnings on Tuesday morning that beat analysts’ highest profit estimate, according to Bloomberg data.
The company also topped expectations for quarterly revenue and posted a 2.4% gain for revenue per available seat mile, a key metric for airline efficiency.
Delta shares traded as much as 4.5% higher in early Tuesday trading, hitting their highest levels since July.
Here are the key numbers:
Revenue: $11.44 billion, versus $11.34 billion
Adjusted earnings per share: $1.70, versus the $1.40 consensus estimate and $1.52 highest estimate
Total revenue per available seat mile: up 2.4%
“2019 was a truly outstanding year on all fronts – the best in Delta’s history operationally, financially and for our customers,” CEO Ed Bastian said in the report. “As we enter 2020, demand for travel is healthy and our brand preference is …read more
Source:: Businessinsider – Finance