SEATTLE (AP) — SEATTLE (AP) — Alaska Air Group Inc. (ALK) on Monday reported a loss of $193 million in its first quarter.
The Seattle-based company said it had a loss of $1.69 per share. Losses, adjusted for non-recurring costs, came to $1.68 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $1.61 per share.
The airline posted revenue of $3.3 billion in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $3.27 billion.
Alaska Air shares have declined 14% since the beginning of the year. In the final minutes of trading on Monday, shares hit $43.48, falling slightly in the last 12 months.
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