NEW YORK — A lukewarm outlook for seat revenue tempered an otherwise banner three months at JetBlue, which topped both profit and revenue expectations for the second quarter.
The New York airline posted a profit of $211 million, or 64 cents per share, topping Wall Street expectations by 8 cents per share, according to a poll by Zacks Investment Research. Profits rose almost 17 percent compared with last year’s $181 million, or 53 cents per share.
Operating revenue per available seat mile for the second quarter rose 7 percent compared with the same period last year, but the company lowered the range for third quarter projections to between -0.5 percent and 2.5 percent, a tail off that may have spooked some investors.
Overall revenue of $1.84 billion just edged out the expectations of industry analysts, and exceeded last year’s $1.64 billion in quarterly revenue.
Shares of JetBlue Airways Corp., up 2.6 percent since the beginning of the year, rose less than 1 percent Tuesday.
This story was generated in part by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JBLU at https://www.zacks.com/ap/JBLU
Keywords: JetBlue Airways, Earnings Report