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Updated from 7:58 a.m. EDT
Southwest Airlines (LUV Quote) shares rose after the airline reported higher income in the third quarter, as revenue grew and the company kept a lid on costs even as fuel prices spiked.
The low-cost carrier reported its 54th consecutive quarter of profitability Thursday, beating Wall Street earnings estimates.
Southwest, the first airline to announce third-quarter earnings, reported net income of $119 million, or 15 cents a share, an increase of 12.3% from the $106 million, or 13 cents a share, it had a year ago. The consensus Wall Street estimate was for earnings of 12 cents a share, according to Thomson First Call. ...
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