(Adds Outlook, share movement)
Delta Air Lines Inc. (DAL) Thursday said it has raised its full-year earnings outlook.
Following this, the stock is up more than 3% in pre-market trading at $49.50. On Wednesday, the stock it had closed at $47.95, down 1.46%. It has traded in the range of $27.20 - $49.04 in the last 52 weeks.
Earnings per share for the year are now expected in the range of $6-$7, up from the previous outlook of $5-$6. Analysts on average, polled by Thomson-Reuters expect the company to report earnings of $6.15 per share.
The company also raised lower end of the revenue growth outlook and now sees revenue for the full year to grow in the range of 17% - 20%, compared with the previous range of 15% - 20%.
Analysts' expectation for revenue growth stands at $18.7%.
For the third quarter, Delta expects earnings per share to be in the range of $2.20 - $2.50 on revenue growth of 11% - 14%
Analysts expect the company to report earnings of $2.05 per share on revenue growth of 11.9%.
Q2 Summary:
For the second quarter, Delta Air Lines revealed a profit that increased from last year and beat the Street estimates.
The company's bottom line totaled $1.83 billion, or $2.84 per share. This compares with $735 million, or $1.15 per share, in last year's second quarter.
Excluding items, Delta Air Lines Inc reported adjusted earnings of $1.72 billion or $2.68 per share for the period.
Analysts on average had expected the company to earn $2.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 12.7% to $15.58 billion from $13.82 billion last year.
Delta Air Lines Inc Q2 earnings at a glance (GAAP) :
-Earnings (Q2): $1.83 Bln. vs. $735 Mln. last year.-EPS (Q2): $2.84 vs. $1.15 last year.-Analyst Estimate: $2.39-Revenue (Q2): $15.58 Bln vs. $13.82 Bln last year.
-Guidance:Next quarter EPS guidance: $2.20 - $2.50Full year EPS guidance: $6 - $7
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