Delta beats 3Q profit forecasts

Markets Associated Press

  • FILE - In this Monday, Aug. 8, 2016, file photo, Delta Air Lines planes are parked at Ronald Reagan Washington National Airport, in Washington. Delta Air Lines reports financial results Thursday, Oct. 13, 2016. (AP Photo/Carolyn Kaster, File)

    FILE - In this Monday, Aug. 8, 2016, file photo, Delta Air Lines planes are parked at Ronald Reagan Washington National Airport, in Washington. Delta Air Lines reports financial results Thursday, Oct. 13, 2016. (AP Photo/Carolyn Kaster, File) (The Associated Press)

  • A Delta Air Lines jet sits at a gate at Hartsfield-Jackson Atlanta International Airport, in Atlanta, Thursday, Oct. 13, 2016. Lower airfares and rising salaries are putting a squeeze on Delta Air Lines. Luckily for the airline, the price of jet fuel remains cheap and the Atlanta-based carrier was able to report a third-quarter profit of $1.26 billion, down 4 percent from the same period a year earlier. (AP Photo/David Goldman)

    A Delta Air Lines jet sits at a gate at Hartsfield-Jackson Atlanta International Airport, in Atlanta, Thursday, Oct. 13, 2016. Lower airfares and rising salaries are putting a squeeze on Delta Air Lines. Luckily for the airline, the price of jet fuel ... remains cheap and the Atlanta-based carrier was able to report a third-quarter profit of $1.26 billion, down 4 percent from the same period a year earlier. (AP Photo/David Goldman) (The Associated Press)

  • Passengers unload in front of a Delta Air Lines sign at Hartsfield-Jackson Atlanta International Airport, in Atlanta, Thursday, Oct. 13, 2016. Lower airfares and rising salaries are putting a squeeze on Delta Air Lines. Luckily for the airline, the price of jet fuel remains cheap and the Atlanta-based carrier was able to report a third-quarter profit of $1.26 billion, down 4 percent from the same period a year earlier. (AP Photo/David Goldman)

    Passengers unload in front of a Delta Air Lines sign at Hartsfield-Jackson Atlanta International Airport, in Atlanta, Thursday, Oct. 13, 2016. Lower airfares and rising salaries are putting a squeeze on Delta Air Lines. Luckily for the airline, the ... price of jet fuel remains cheap and the Atlanta-based carrier was able to report a third-quarter profit of $1.26 billion, down 4 percent from the same period a year earlier. (AP Photo/David Goldman) (The Associated Press)

Delta Air Lines Inc. (DAL) on Thursday reported third-quarter profit of $1.26 billion.

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On a per-share basis, the Atlanta-based company said it had profit of $1.69. Earnings, adjusted for non-recurring costs, came to $1.70 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.

The airline posted revenue of $10.48 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $10.59 billion.

Delta shares have declined 23 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 5 percent. The stock has declined 19 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DAL at http://www.zacks.com/ap/DAL

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Keywords: Delta Air Lines, Earnings Report, Priority Earnings