United Air Tops Profit Estimates

Earnings Reuters

United Continental Holdings Inc on Tuesday reported lower second-quarter profit that beat analysts' expectations as aircraft routing and engine usage helped it save on fuel.

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The company also said it would buy back $2 billion of its stock.

The No. 3 U.S. airline by passenger traffic earned $588 million in the second quarter. Excluding items such as airport assets that lost value, profit fell 32 percent to $863 million, or $2.61 per share. Analysts on average had estimated earnings of $2.56 per share, according to Thomson Reuters I/B/E/S. (Reporting by Jeffrey Dastin in San Francisco; Editing by Richard Chang)

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