United Continental Turns Lower After Beating Expectations

By Claudia Assis Markets MarketWatch Pulse

United Continental Holdings Inc. shares turned lower late Tuesday after the company reported second-quarter results above expectations. United said it earned $818 million, or $2.66 a share, in the quarter, compared with $1.78 a share in the year-ago period. Adjusted for one-time items, United said it earned $846 million, or $2.75 a share, compared with $2.61 a share a year ago. Revenue rose 6.4% to $10 billion in the quarter. Analysts polled by FactSet had expected adjusted earnings of $2.66 a share on sales of $9.97 billion. The company, under a cloud earlier this year after a passenger was forcibly removed from one of its flights after he refused to give up his seat, said it had implemented several changes in the quarter to improve customer experience, including reducing overbooking. Shares of United Continental ended the regular session down 1.1%.

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