American Airlines Group Inc (NASDAQ:AAL) stock was down on Thursday following the release of its earnings report for the first quarter of 2017.
American Airlines Group Inc reported earnings per share of 61 cents during the first quarter of the year. This is a decrease from its earnings per share of $1.25 that was reported in the first quarter of 2017. However, it did come in above Wall Street’s earnings per share estimate of 55 cents for the quarter.
During the first quarter of 2017, American Airlines Group Inc reported revenue of $9.62 billion. This is an increase over its revenue of $9.44 billion from the same time last year. It also barely came in above analysts’ revenue estimate of $9.6 billion for the first quarter of the year.
American Airlines Group Inc reported operating income of $601 million for the first quarter of the year. This is down from its operating income of $1.34 billion from the same period of the year prior.
Net income reported by American Airlines Group Inc in the first quarter of 2017 was $234 million. This is a drop from the airline company’s net income of $700 from the first quarter of the previous year.
American Airlines Group Inc has also announced that it will b paying a cash dividend of 10 cents per share to investors. This dividend will be payable May 30, 2017 to shareholders that are on record as of May 16, 2017.
American Airlines Group Inc also noted that it has filed an 8-K with the SEC to increase the hourly base pay of its flight attendants and pilots. This increase the employees’ pay by an average of 5% and 8%, respectively.
AAL stock was down 7% as of noon Thursday.
