United Airlines Shares Fall After Company Misses Earnings Expectations

United Airlines shares fell 3% Thursday after the company missed third-quarter earnings expectations. The company reported net income of $4.82 billion, or $12.82 per share, up from $924 million, or $2.37 per share in the year-earlier period. The company reported adjusted earnings per share of $4.53, below the FactSet consensus of $4.55. United reported revenue of $10.3 billion, below $10.6 billion in the year-earlier period and in-line with the FactSet consensus of $10.3 billion. Addressing the fact that the new United CEO, Oscar Munoz recently suffered a heart attack, Brett Hart, the acting CEO said, "With Oscar Munoz on medical leave, this leadership team and I are working to push forward the agenda we laid out over the past six weeks by focusing on our employees, improving our processes and investing in our systems to further improve our margins."

Copyright © 2015 MarketWatch, Inc.