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American Airlines tops 2Q profit expectations; shares down 21% this year

FORT WORTH, Texas — American Airlines Group Inc. (AAL) on Friday reported second-quarter net income of $1.7 billion.

On a per-share basis, the Fort Worth, Texas-based company said it had profit of $2.41. Earnings, adjusted for non-recurring costs and pretax expenses, were $2.62 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.58 per share.

The world’s largest airline posted revenue of $10.83 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $10.93 billion.

American Airlines shares have fallen 21 per cent since the beginning of the year. The stock has fallen slightly in the last 12 months.