In a story about Controladora Vuela's results, The Associated Press reported erroneously, in a report generated by Automated Insights using data from Zacks Investment Research, that the company's earnings missed Wall Street expectations. The company beat Wall Street expectations.
A corrected version of the story is below:
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Controladora Vuela beats 4Q profit forecasts
Controladora Vuela posts 4Q profit of $48 million, results beat forecasts
SANTA FE, Mexico (AP) — Controladora Vuela Compania de Aviacion SAB. de CV (VLRS) on Wednesday reported fourth-quarter net income of $48 million, after reporting a loss in the same period a year earlier.
The Santa Fe, Mexico-based company said it had net income of 47 cents per share.
The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The operator of low-cost airline Volaris posted revenue of $269 million in the period.
For the year, the company reported profit of $41 million, or 41 cents per share. Revenue was reported as $954 million.
Controladora Vuela shares have risen roughly 4 percent since the beginning of the year. The stock has decreased 17 percent in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VLRS at http://www.zacks.com/ap/VLRS
Keywords: Controladora Vuela, Earnings Report