Delta

Delta Air Lines tops quartely earnings and revenue expectations

ATLANTA – Delta Air Lines Inc. (DAL) on Wednesday reported second-quarter net income of $1.49 billion.

The Atlanta-based company said it had net income of $1.83 per share. Earnings, adjusted for non-recurring gains, came to $1.27 per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.

The airline posted revenue of $10.71 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $10.64 billion.

Delta shares have fallen 11 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 2 per cent. The stock has risen almost 10 per cent in the last 12 months.