Riding the storm out, JetBlue tops 3Q profit forecasts

Markets Associated Press

JetBlue exceeded the third-quarter profit expectations on Wall Street, despite major flight disruptions following a pair of disastrous hurricanes.

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JetBlue on Tuesday reported third-quarter earnings of $179 million, down from the $199 million for the same period last year.

On a per-share basis, the New York company reported net income of 55 cents, 3 cents better than industry analysts had predicted, according to a survey by Zacks Investment Research.

JetBlue estimated that disruptions caused by Hurricanes Harvey and Irma had a negative impact of six cents per share on its earnings.

The airline posted revenue of $1.81 billion in the period, which met Street forecasts, and topped the $1.73 billion for last year's third quarter.

Shares of JetBlue Airways Corp., which have fallen 11 percent since the beginning of the year, slipped 1.5 percent at the opening bell.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on JBLU at https://www.zacks.com/ap/JBLU