JetBlue Shares Rise On Earnings Beat

By Tonya Garcia Markets MarketWatch Pulse

JetBlue Airways Corp. shares rose 1.1% in Thursday premarket trading after the airline reported fourth-quarter earnings and revenue that beat estimates. Net income was $172.0 million, or 50 cents per share, down from $190.0 million, or 56 cents per share, for the same period last year. The FactSet consensus was 49 cents per share. Revenue was $1.64 billion, up from $1.59 billion last year and meeting the FactSet consensus. Passenger revenue rose to $1.48 billion from $1.44 billion and beat the $1.46 billion FactSet consensus. And revenue passenger miles for the quarter rose 6% year-over-year to 11.2 billion on a capacity increase of 4.5%. For the first quarter, JetBlue sees a capacity increase between 4.5% and 6%. JetBlue shares are up 24.1% for the last three months, but are up 0.9% for the past year. The S&P 500 index is up 20.8% for the last 12 months.

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