American Airlines Beats Fourth-quarter Earnings Expectations

Shares of American Airlines Group rose 1% in premarket trade Friday after the company beat fourth-quarter earnings expectations. It reported net income of $475 million, or 92 cents per share, compared to $1.3 billion, or $2 per share, in the year-earlier period. It reported adjusted earnings per share of $1.48, above the FactSet consensus of 92 cents. It reported revenue of $9.79 billion, up from $9.63 billion in the year-earlier period and above the FactSet consensus of $9.75 billion. The company has approved a new $2 billion share buyback program which will expire Dec. 31, 2018. Shares of American Airlines have gained 24% in the past three months, compared to the S&P 500's gain of 8%.