Alaska Air Group (NYSE: ALK) announced its first-quarter financial results on Thursday. The airline reported a wider net loss that beat analysts’ forecast.
Net loss, excluding special items, widened to $3.51 per share in the March quarter from $0.83 per share in the year-ago period. On a reported basis, the company reported a loss of $131 million or $1.05 per share, compared to a loss of $232 million or $1.89 per share in the first quarter of 2020. Analysts were looking for a slightly wider loss.
The bottom-line performance was negatively impacted by a 51% decrease in revenues to $797 million. The top-line, however, exceeded the market’s projection.
Alaska Air Group’s shares made strong gains early Thursday soon after the announcement, after closing the previous session higher.
Will the Airline Industry Evolve or Die After the Black Swan-ish Disruption?
Is the airline industry staring at an evolutionary cycle after the Coronavirus-induced Pandemic that has no parallels in the past? What was the thought process of top airline executives as Covid-19 unfolded? Were they prepared? What lies ahead? We try to find out from the treasure trove of Earnings Transcripts & Press Releases.
Leading stock indexes retreated after gaining mid-week when Wall Street biggies like Apple and Amazon reported impressive quarterly numbers. The Dow Jones Industrial Average was down 190 early Friday, while
The airlines sector was severely impacted by the disruption caused by the COVID-19 pandemic in 2020. A year later, the industry is still limping its way to a recovery. In
The company that witnessed the strongest growth during the pandemic is probably Amazon.com, Inc. (NASDAQ: AMZN), which went into overdrive when the crisis triggered an online shopping boom. Taking a