Why Spirit Airlines Stock Just Jumped 14%

Why Spirit Airlines Stock Just Jumped 14%

Shares of discount airline Spirit Airlines Incorporated (NASDAQ: SAVE) jumped nearly 14% in early Thursday trading after the company announced fiscal third-quarter earnings that beat analyst expectations. Spirit reported $0.94 per share in pro forma profits for Q3 2017, $0.04 ahead of Wall Street's estimates. Revenues were likewise ahead of schedule, coming in at $687.2 million for the quarter, above analysts' expected $686.6 million.

Spirit Airlines stock has retraced somewhat since its morning pop but was still up 9.5% as of 11:35 a.m. EDT.

Everything's looking sunnier for Spirit this morning. Image source: Spirit Airlines.

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Source: Fool.com