Delta Air Tops Profit, Revenue Estimates

Delta Air Lines Inc. said it had net income of $357 million, or 42 cents a share, in the quarter, down from $1.369 billion, or $1.59 a share, in the year-earlier period. Adjusted per-share earnings came to $1.20 a share, ahead of the FactSet estimate of $1.18. Revenue totaled $11.178 billion, up from $10.490 billion, and compared with the FactSet estimate of $11.115 billion. "While we have more work ahead of us to achieve our long-term financial goals, we expect a record fourth quarter of 2014 with an operating margin of 10-12%," Chief Executive Richard Anderson said in a statement. Delta is expecting pre-tax profit of more than $4 billion for the full year, he said. Shares fell 3.8% in premarket trade.