American Airlines Expects Second-Quarter Profit Thanks to Surge in Travel Demand
United said Wednesday it expects to return to a profit this year thanks to a surge in bookings and fares, echoing similar comments a week earlier from Delta. United's forecast sent airline stocks higher in after-hours trading Wednesday.
American shares surged after reporting results and were up more than 11% in premarket trading Thursday, up from a roughly 5% increase fueled by United's results. United was up more than 8%. Here's how American performed in the first quarter compared with what Wall Street expected, based on average estimates compiled by Refinitiv:$8.9 billion versus expected $8.826 billion
American posted a net loss of $1.6 billion in the first quarter on revenue of nearly $8.9 billion, more than double its $4 billion in sales a year ago and ahead of analyst estimates. Sales were down 16% compared with the same quarter of 2019.
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