Southwest Reports Record Q4 Profit, Help From Tax Bump
DALLAS (AP) - Southwest Airlines is reporting that fourth-quarter net income soared to $1.89 billion on a massive tax benefit.
Per-share profit for the Dallas carrier was $3.18, but 77 cents when adjusted for one-time gains, including $1.4 billion due to sweeping changes in U.S. tax law. Per-share earnings are still a penny better than Wall Street expected, according to a survey by Zacks Investment Research.
Revenue, at $5.27 billion, also edged out analyst projections of $5.24 billion.
Shares of Southwest Airlines Co. faded slightly before the opening bell Thursday.
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