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Jul 13, 2017

Delta misses second-quarter forecasts

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Atlanta — Delta Air Lines Inc (DAL.N) on Thursday reported second-quarter earnings of US$1.22 billion.

On a per-share basis, the Atlanta-based company said it had profit of US$1.68. Earnings, adjusted for non-recurring gains, came to US$1.64 per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of US$1.66 per share.

The airline posted revenue of US$10.79 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected US$10.83 billion.

Delta shares have climbed 13 per cent since the beginning of the year, while the Standard & Poor's 500 index has increased 9 per cent. The stock has climbed 38 per cent in the last 12 months.