Southwest: 1Q Earnings Snapshot

DALLAS — Southwest Airlines Co. on Thursday reported first-quarter earnings of $463 million.

The Dallas-based company said it had net income of 79 cents per share. Earnings, adjusted for non-recurring gains, came to 75 cents per share.

The results met Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 75 cents per share.

The airline posted revenue of $4.94 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $5.02 billion.

Southwest shares have fallen 18 per cent since the beginning of the year, while the Standard & Poor’s 500 index has decreased slightly more than 1 per cent. The stock has fallen roughly 6 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LUV at https://www.zacks.com/ap/LUV