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Southwest misses 2Q profit forecasts

FILE - In a June 6, 2016, file photo, a Southwest Airlines jet gets ready to land at Tampa International Airport, in Tampa, Fla. On Thursday, July 21, 2016, Southwest reports financial results. (Skip O'Rourke/The Tampa Bay Times via AP, File) FILE - In a June 6, 2016, file photo, a Southwest Airlines jet gets ready to land at Tampa International Airport, in Tampa, Fla. On Thursday, July 21, 2016, Southwest reports financial results. (Skip O'Rourke/The Tampa Bay Times via AP, File)

By Associated Press July 21, 2016 1 min read

DALLAS (AP) – DALLAS (AP) – Southwest Airlines Co. (LUV) on Thursday reported second-quarter net income of $820 million.

The Dallas-based company said it had net income of $1.28 per share. Earnings, adjusted for non-recurring gains, came to $1.19 per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.

The airline posted revenue of $5.38 billion in the period.

Southwest shares have decreased slightly more than 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 6 percent. The stock has risen 23 percent 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 http://www.zacks.com/ap/LUV

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Keywords: Southwest Airlines, Earnings Report, Priority Earnings