Why Shares of American Airlines Are Soaring Today
Shares of American Airlines Group (NASDAQ: AAL) jumped as much as 30% higher on Thursday morning following the airline's fourth-quarter earnings announcement. The results came in a bit better than expectations, but weren't good enough to justify the response.
Before markets opened, American said it lost $3.86 per share in the fourth quarter on revenue of $4 billion, besting analyst expectations for a $4.11-per-share loss on revenue of $3.88 billion. Revenue during the quarter was down 64% from a year prior, with the airline burning through about $30 million per day during the period.
Image source: American Airlines.
Source Fool.com
