American Airlines Beats Street 1Q Forecasts
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FORT WORTH (AP) — American Airlines Group Inc. (AAL) on Friday reported first-quarter net income of $700 million.
The Fort Worth-based company said it had net income of $1.14 per share. Earnings, adjusted for one-time gains and costs, came to $1.25 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.
The world's largest airline posted revenue of $9.44 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $9.43 billion.
American Airlines shares have fallen 5.5 percent since the beginning of the year. The stock has declined 22 percent in the last 12 months.
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