Delta Shares Rise After Company Beats Second-quarter Earnings Expectations

Delta Air Lines Inc. shares rose 1.5% in premarket trade Wednesday after the company beat second-quarter earnings expectations. Delta reported net income of $1.3 billion, or $1.65 per share, for the quarter above $357 million, or $0.42 per share, in the year-earlier period. Delta reported adjusted earnings per share of $1.74 above the FactSet consensus of $1.72. The company reported revenue of $11.1 billion, in line with the FactSet consensus of $11.1 billion and a 0.6% increase year-over-year. Delta said currency exchange and "global economic uncertainty" caused a slight decline in revenues. For the December 2015 quarter, Delta estimated a $1.75 to $1.80 impact on fuel price and a 16% to 18% operating margin.