Delta Air Lines soared to a record quarterly profit of more than $1.8 billion as summer vacationers packed planes, especially to international destinations, and the airline enjoyed a tailwind from falling fuel prices. The results released Thursday beat Wall Street expectations, and Delta raised its forecast of full-year earnings. Delta officials said strong demand for…
Delta Air Lines Is Soaring to a Record $1.8 Billion Profit as Summer Vacationers Pack Planes
American Airlines Says It Will Appeal a Ruling That Would Break up a Partnership With JetBlue
DALLAS—American Airlines said Wednesday it will appeal a court decision that would force the airline to break up its partnership with JetBlue Airways in the Northeast. American and JetBlue face a late-June deadline to end the agreement in which they coordinate flights and share revenue. The Justice Department sued to block the alliance, and a…
Kohl’s Reports Surprise Profit in Q1 Helped by Inventory Cuts
NEW YORK—Kohl’s posted a surprise profit for the fiscal first quarter, helped by the department store chain’s moves to cut inventory in the wake of weak sales. The company, based in Menomonee Falls, Wisconsin, also affirmed its annual financial guidance, pushing up shares 11 percent higher in premarket trading on Wednesday. Kohl’s said that it…
Abercrombie & Fitch Reports Surprise Profit, Raises Sales Forecast
Abercrombie & Fitch Co. on Wednesday posted a surprise quarterly profit and lifted its full-year sales forecast, as the clothing retailer banks on its efforts to fill shelves with in-demand goods, sending its shares up as much as 29 percent. The apparel retailer has worked to increase its stock across all its labels and lure…
Airbnb Posts $117 Million Profit, but Q2 Outlook Disappoints
Airbnb said that it earned $117 million in the first quarter as revenue rose during the ongoing recovery in travel, but the company’s outlook for late spring and early summer disappointed investors. The San Francisco-based company’s shares fell nearly 12 percent in extended trading hours after Airbnb posted the forecast on Tuesday. The weak outlook…
Japan’s Honda Records Lower Profit, Projects Recovery Ahead on Sales Rebound
TOKYO—Honda’s profit for the fiscal year that ended in March dropped 1.7 percent as sales took a hit from a semiconductor shortage and restrictions in China related to the coronavirus pandemic. But the Japanese automaker said Thursday that recovery was on the way, forecasting record sales and operating profitability for the current fiscal year. Net…
Buffett’s Berkshire Posts $35.5 Billion Profit, Buys Back More Stock
OMAHA, Nebraska—Warren Buffett’s Berkshire Hathaway Inc. posted a $35.5 billion first-quarter profit on Saturday, reflecting gains from stocks such as Apple Inc., while higher investment income and a rebound at car insurer Geico bolstered operating results. Berkshire also sped up repurchases of its own stock, buying back $4.4 billion, while paring its investments in other…
Ford Posts $1.76 Billion 1Q Profit Largely on Gas-Powered Vehicles
Ford Motor Co. on Tuesday reported profits of $1.76 billion in the first quarter of 2023 that topped Wall Streets expectations, as the automaker’s fleet and legacy operations outweighed growing losses in electric vehicles. Revenue rose 20 percent year-over-year to $41.5 billion for the quarter on a 9 percent increase in vehicle shipments over the…
Royal Caribbean Raises Profit Forecast Buoyed by Travel Boom, Higher Prices
Royal Caribbean Group raised its annual profit forecast after upbeat quarterly results on Thursday, cruising on the back of higher ticket prices and pent-up leisure travel demand, sending shares up nearly 8 percent. The Miami, Florida-based company also projected current-quarter earnings well above Wall Street estimates and said bookings outpaced 2019 levels by “a very…
Mastercard’s Probe Disclosure Clouds Profit Beat
Mastercard Inc. beat estimates for quarterly profit as consumer spending surged against a turbulent economy, but the card company’s disclosure of a probe by the U.S. Justice Department unnerved investors. The regulator has demanded that Mastercard provide documents tied to its U.S. debit program and competition with other payments networks, the card company said. Visa…
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