American Airlines Group Inc. on Thursday reported a third-quarter loss of $2.4 billion, after reporting a profit in the same period a year earlier.
On a per-share basis, the Fort Worth-based company said it had a loss of $4.71. Losses, adjusted for non-recurring gains, came to $5.54 per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of $5.62 per share.
The world's largest airline posted revenue of $3.17 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $2.8 billion.
American Airlines shares have declined 56% since the beginning of the year. The stock has declined 55% in the last 12 months.
Copyright AP - Associated Press
