Delta Air Lines, Inc. (NYSE:DAL) is one of the stocks that are flying past expectations.
Delta Air extended its winning streak to a third straight day on Thursday, jumping 11.99 percent to close at $56.78 apiece as investors cheered its impressive earnings performance in the second quarter of the year.
During the period, Delta Air Lines, Inc. recorded a 63-percent increase in net income to $2.13 billion from $1.3 billion in the same period last year, despite operating revenues ending flat at $16.6 billion.
“Through the quarter, demand trends stabilized at levels that are flat to last year, and we continued to see resilience in our diverse, high-margin revenue streams,” Delta Air Lines, Inc. President Glen Hauenstein said.
An aerial view of a commercial aircraft taking off from a coastal hub.
Going into the third quarter, the company expects revenues to either remain unchanged or grow by up to 4 percent year-on-year.
It also announced a 25-percent increase to its quarterly dividends, which would entitle shareholders to receive $0.1875 dividends per share, versus the $0.15 previously. The higher dividend payments are set to begin in September this year.
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This article is originally published at Insider Monkey.
