JetBlue 2Q profit rises sixfold

MarketsAssociated Press

JetBlue Airways Corp. (JBLU) on Thursday reported earnings that climbed sixfold in its second quarter. The results matched analysts' expectations.

The company said profit increased to $230 million, or 68 cents per share, from $36 million, or 11 cents per share, in the same quarter a year ago.

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Earnings, adjusted for non-recurring gains, came to 19 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.

The airline said revenue rose 12 percent to $1.49 billion from $1.34 billion in the same quarter a year earlier, and missed Wall Street forecasts. Analysts expected $1.51 billion, according to Zacks.

JetBlue Airways shares have climbed $2.74, or 32 percent, to $11.28 since the beginning of the year. The stock has risen $4.65, or 70 percent, in the last 12 months.