Southwest Airlines Co.’s stock fell 1.3% in premarket trades Thursday after the company reported first-quarter earnings and revenue below Wall Street’s...
Southwest Airlines Co.’s LUV stock fell 1.3% in premarket trades Thursday after the company reported first-quarter earnings and revenue below Wall Street’s expectations. The carrier reported a net loss of $159 million, or an adjusted per-share loss of 27 cents, compared with a net loss of $278 million, or an adjusted per-share loss of 32 cents, in the prior year’s quarter. Analysts surveyed by FactSet were expecting a per-share loss of 23 cents. Southwest’s revenue rose 21.
The carrier reported a net loss of $159 million, or an adjusted per-share loss of 27 cents, compared with a net loss of $278 million, or an adjusted per-share loss of 32 cents, in the prior year’s quarter. Analysts surveyed by FactSet were expecting a per-share loss of 23 cents. Southwest’s revenue rose 21.6% year-over-year to $5.71 billion, but was below the FactSet consensus of $5.73 billion.
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