NEW YORK (TheStreet) -- Shares of JetBlue (JBLU) - Get Report  were increasing in pre-market trading on Tuesday as the company posted better-than-expected 2016 third-quarter revenue before today's market open. 

JetBlue reported revenue of $1.73 billion, above analysts' estimated $1.72 billion. 

Earnings came in at 58 cents per diluted share, missing Wall Street's projected 60 cents per share. 

For the same period last year, the Long Island City, NY-based airline earned 58 cents per diluted share and $1.69 billion in revenue. 

Revenue passenger miles rose 7.6% to 11.9 million for the 2016 third quarter. Capacity increased 6.3% during the quarter, resulting in a load factor of 86.3%. 

JetBlue said it expects capacity to increase between 3% and 5% in the 2016 fourth quarter. 

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For the full year, the company said it sees capacity rising between 8.5% and 9.0%. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

The team rates JetBlue as a Buy with a ratings score of B. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and expanding profit margins. The team feels its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

You can view the full analysis from the report here: JBLU

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