FX.co ★ Southwest Airlines Inc. Q3 Profit Decreases, But Beats Estimates

Southwest Airlines Inc. (LUV) has announced a decline in its third-quarter profit compared to last year but has exceeded Wall Street expectations.

The company's net income stood at $67 million, or $0.11 per share, compared to $193 million, or $0.31 per share, in the same quarter last year. When excluding specific items, the airline reported adjusted earnings of $89 million or $0.15 per share.

According to projections by Thomson Reuters, analysts had anticipated earnings of $0.00 per share on average, typically not considering special items in their forecasts.

For the quarter, the company's revenue increased by 5.3%, rising to $6.870 billion from $6.525 billion in the previous year.

Overview of Southwest Airlines Inc. Financial Results (GAAP):

- Earnings for Q3: $67 million, compared to $193 million last year.

- Earnings Per Share for Q3: $0.11, down from $0.31 last year.

- Revenue for Q3: $6.870 billion, up from $6.525 billion last year.