Delta Soars on High Earnings, Collaboration With Virgin
Delta Air Lines (NYSE:DAL) reported earnings on Tuesday morning with net profit climbing $444 million year-over-year to $1.2 billion or $1.41 a share. Analysts had expected Delta to post earnings of $1.36 a share. GAAP income was $1.4 billion, or $1.59 a share. Delta’s total operating revenue was $10.49 billion, compared to $9.92 billion a year ago and topping estimates of $10.47 billion.
Passenger revenue grew 6.7 percent overall. Passenger revenue saw its biggest gains domestically (10.7 percent) and in the Latin American region (16 percent), but declined in the Pacific, falling 5 percent. Delta’s earnings report repeatedly cited the hard work of the company’s employees as a reason for the successful quarter, and the company announced a $249 million profit-sharing expense “in recognition of Delta employees’ contributions to the company’s financial performance.”
In addition, flight attendants and pilots were equipped with Microsoft (NASDAQ:MSFT) technology, including the Windows Phone 8 for flight attendants and Surface 2 tablets for pilots. The company also improved its performance for customers, getting an on-time arrival rate of 83 percent and a completion rate of 99.8 percent, including a 40-day span of 100 percent completion.