JetBlue posts Q2 loss but beats analyst estimates

JetBlue Airways Corporation (Nasdaq:JBLU) reported a net loss that beat analyst estimates ahead of the opening today, sending shares up 8% in pre-market trading. For the second quarter, the airliner posted a net loss of $7 million, or $0.03 per share, compared with a net income of $21 million, or $0.11 a share, for the same quarter a year ago. The company said operating revenues were $859 million, up 18% from the same period a year earlier. Despite the loss, Forest Hills, N.Y.-based JetBlue beat analyst estimates; Wall Street was expecting a net loss of $0.07 per share on revenues of $856 million. Record-high gas prices coupled with less traveling have hit the airline industry hard. JetBlue is down more than 34% since January.

In today’s pre-market trading, shares are at $4.21, up $0.32 from Monday’s close.

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