Southwest Airlines Tops Profit, Sales Estimates

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Southwest Airlines Co. said Thursday it had net income of $329 million, or 48 cents a share, in the third quarter, up from $259 million, or 37 cents a share, in the same period a year ago. Excluding special items, the airline said per-share earnings came to 55 cents, ahead of the FactSet consensus of 53 cents. Revenue came to $4.8 billion, up 5.6% from a year ago and also ahead of the FactSet consensus of $4.792 bln. "Thus far, revenue momentum has continued into October 2014, with favorable load factor and unit revenue trends," Chief Executive Gary Kelly said in a statement. "Current bookings for November and December are also good." Shares were not yet active in premarket trade but have gained 81% in the year so far, while the S&P 500 is up 4.3%.

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