Southwest Airlines broke a string of three straight losing quarters by eking out a small profit despite a downturn in travel.
Dallas-based Southwest said Tuesday it earned $54 million, or 7 cents per share in the quarter ended June 30, down sharply from a gain of $321 million, or 44 cents per share, a year earlier.
Excluding one-time items, Southwest said it would have earned $59 million, or 8 cents per share.
Analysts expected profit of 7 cents per share excluding charges.
Revenue dipped 8.8 percent, to $2.62 billion, less than the 22.7 percent plunge Continental reported Tuesday.
Southwest's traffic has held up better than that of other airlines as it lured passengers with lower fares.
Copyright The Associated Press
