Delta Air Lines, Inc. (NYSE:DAL) stock got a boost today after releasing its earnings report for the fourth quarter of 2017.
During the fourth quarter of 2017, Delta Air Lines, Inc. reported revenue of $10.25 billion. This is an 8.3% increase over its revenue from the same time last year. It also beat out Wall Street’s revenue estimate of $10.13 billion for the quarter.
Delta Air Lines, Inc. also reported earnings per share of 96 cents in its fourth quarter of 2017. This is up from its earnings per share of 82 cents from the fourth quarter of 2016. It also came in well above analysts’ earnings per share estimate of 88 cents for the period and was a boon to DAL stock.
Net income reported by Delta Air Lines, Inc. in the fourth quarter of 2017 came in at $572 million. This is down from its net income of $622 million that was reported in the same quarter of the previous year.
Delta Air Lines, Inc.’s earnings report for the fourth quarter of 2017 also included its guidance for the first quarter of 2018. The company is expecting earnings per share for the quarter to range from 60 cents to 80 cents. Wall Street is looking for DAL to report earnings per share of 82 cents during its first quarter of the year.
Delta Air Lines, Inc. also specifically noted benefits it will receive as a result of the recent GOP tax plan passing. The airline company says that the tax cut will have it reporting 2018 earnings with a all-in book tax rate of 22% to 24%.
DAL stock was up 1% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.