NEW YORK (TheStreet) -- American Airlines Group (AAL) - Get American Airlines Group, Inc. Report rose Thursday after the airline giant reported first-quarter earnings that surpassed analysts' expectations.
The group reported adjusted earnings of $402 million, or 54 cents a share, compared to $62 million in the same period one year earlier. Including one-time items, American's profit was $480 million, compared with a year-earlier loss of $297 million. Revenue rose 5.6% year over year to a record $10 billion.
Analysts polled by Thomson Reuters expected profit of 48 cents a share on revenue of $10.02 billion.
American Airlines Group formed in December when US Airways Group and AMR Corp. merged, but this quarterly report considers the two companies as combined for the entire year.
Passenger revenue per available seat mile rose 2.9%. Total combined operating expenses dipped 0.3%.
The stock was up 0.86% to $37.41 at 11:11 a.m. on Thursday.
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