United Continental Holdings Inc (NYSE:UAL) released a positive earnings report for the fourth quarter of 2016.

United Continental Holdings Inc reported earnings per share of $1.78 for the fourth quarter of 2016. This is up from the earnings per share of $1.64 that it reported during the same period of the year prior. It also came in above Wall Street’s earnings per share estimate of $1.73 for the quarter.

Revenue reported by United Continental Holdings Inc during the fourth quarter of 2016 was $9.05 billion. UAL’s revenue from the fourth quarter of 2015 was $9.04 billion. Analysts were expecting the company to report revenue of $9.03 billion during the fourth quarter of 2016.

Operating income reported by United Continental Holdings Inc during the fourth quarter was $1.01 billion. Operating income from the same time last year was $1.08 billion. Net income for the fourth quarter of 2016 was $397 million. This is down from the airline company’s net income of $823 from the fourth quarter of 2015.

United Continental Holdings Inc saw its net income drop from $823 million in the fourth quarter of 2015 to $397 million a year later due to taxes. The company paid $487 million in income taxes in the fourth quarter of 2016, but only $82 million in the fourth quarter of 2015.

“We saw meaningful improvement in the pricing and demand environment in the quarter,” Scott Kirby, President of United Continental Holdings Inc, said in a statement. “Looking forward, we anticipate first-quarter consolidated unit revenues to be approximately flat, marking the fourth straight quarter of sequential quarter-over-quarter improvement.

UAL stock was up slightly as of Noon Thursday.