Airlines in the U.S. expecting 4% increase in passengers this spring

American Airlines reports second-quarter profit of $950 million

FORT WORTH, Texas — American Airlines Group Inc. on Friday reported second-quarter profit of $950 million.

The Fort Worth, Texas-based company said it had net income of $1.68 per share. Earnings, adjusted for one-time gains and costs, came to $1.77 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.

The world’s largest airline posted revenue of $10.36 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $10.31 billion.

American Airlines shares have fallen 17% since the beginning of the year. The stock has dropped 15% in the last 12 months.