FORT WORTH, Texas – American Airlines Group Inc. (AAL) on Friday reported first-quarter earnings of $932 million.

The Fort Worth, Texas-based company said it had net income of $1.30 per share. Earnings, adjusted for non-recurring costs and pretax expenses, came to $1.73 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.

The world’s largest airline posted revenue of $9.83 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $9.82 billion.

American Airlines shares have dropped 4 per cent since the beginning of the year. The stock has increased 39 per cent in the last 12 months.