JetBlue Airways Corporation (JBLU) Shares Rise on Earnings Beat

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JetBlue Airways Corporation (NASDAQ:JBLU) posted its quarterly earnings results Tuesday.

JetBlue Airways Corporation (JBLU) Stock The airline’s stock soared higher after the company unveiled how good of a first quarter it had to kick off its fiscal 2017. Earnings came in at $85.0 million, or 25 cents per share.

The figure was lower than the $207.0 million it earned in the first quarter of 2016, or 61 cents per share. However, the figure came in ahead of the 22 cents per share that analysts had projected.

Revenue came in at $1.60 billion, which missed Wall Street’s expectations of $1.62 billion, while also falling below the $1.62 billion JetBlue made in the year-ago period.

A statistic that shows passenger revenue per available seat mile (RASM) fell 5.8% year-over-year, coming in at 10.68 cents per share for the first quarter of fiscal 2017.

Operating expense per available seat mile (CASM) fell 4.8% to 11.81 cents. JetBlue expects its second-quarter seat capacity to rise 4% to 6% compared to the year-ago period.

Meanwhile, RASM is slated to surge somewhere in the range of 3% to 6% compared with the same quarter a year ago. CASM excluding fuel will also rise, surging between 4.5% and 6.5% in the second quarter.

It’s a good time for JetBlue to improve its margins due to the fact that other airlines’ reputations have taken a hit in recent months, while JetBlue continues to be on the up and up.

JBLU stock dipped 0.7% Tuesday,


Article printed from InvestorPlace Media, https://investorplace.com/2017/04/jetblue-airways-corporation-jblu-3/.

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