JetBlue Airways Corp. JBLU stock rose 1.5% in premarket trades Tuesday after the airline reported better-than-expected earnings and outlook. The airline reported a first-quarter net loss of $192 million, or a loss 58 cents a share, compared with a net loss of $255 million, or a loss of 79 cents a share, in the same period last year. On an adjusted basis, JetBlue reported a loss of 34 cents a share, compared with a loss of 80 cents a share in the prior year’s quarter. Analysts surveyed by FactSet were looking for a loss of 38 cents a share. JetBlue reported first-quarter revenue of $2.328 billion, up from $1.736 billion a year ago, and just above the FactSet consensus of $2.317 billion. The company’s revenue per passenger was $10,192, up from $8,177 in the prior year’s quarter, but below the FactSet consensus of $11,985.5. “For the second quarter, we expect strong revenue growth to continue as demand remains robust and as we see continued momentum from our commercial initiatives,” said JetBlue CEO Robin Hayes, in a statement. JetBlue now sees second-quarter adjusted earnings of 35 cents to 45 cents a share, above the FactSet consensus of 30 cents. For the full year, JetBlue now sees adjusted earnings of 70 cents to $1.00, above the FactSet consensus of 49 cents.
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