© Reuters. Shares of United Airlines (UAL) drop 7% after missing Q2 earnings
By David Kirakosyan
Shares of United Airlines (NASDAQ:) fell about 7% after hours Wednesday after the airlines, with EPS of $1.43, falling short of the consensus estimate of $1.86. Revenue increased 6% year-over-year to $12.1 billion, compared with consensus estimates of $12.06 billion.
Q2 revenue improved at a brisk pace, representing the highest second-quarter revenue in the company’s history, and while the company expects the economy to slow in the near to medium term, The continued recovery of the pandemic more than offset economic difficulties – leading to an expected acceleration in revenue and earnings in the second quarter. As a result, the company reiterated its expectation to be profitable for the whole of 2022.