CHICAGO (AP) _ United Airlines Holdings Inc. (UAL) on Thursday reported a first-quarter loss of $1.7 billion, after reporting a profit in the same period a year earlier.
On a per-share basis, the Chicago-based company said it had a loss of $6.86. Losses, adjusted for non-recurring costs, were $2.57 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $3.25 per share.
The airline posted revenue of $7.98 billion in the period.
United shares have fallen 66% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.63, a decrease of 67% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UAL at https://www.zacks.com/ap/UAL
The Associated Press