ATLANTA (AP) -- Delta Air Lines Inc. (DAL) on Tuesday reported a fourth-quarter loss of $712 million, after reporting a profit in the same period a year earlier.<br />
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On a per-share basis, the Atlanta-based company said it had a loss of 86 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to 78 cents per share.<br />
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The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.<br />
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The airline posted revenue of $9.65 billion in the period, which also beat Street forecasts. Analysts expected $9.59 billion, according to Zacks.<br />
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Delta shares have decreased roughly 7 percent since the beginning of the year, while the Standard & Poor's 500 index has fallen almost 2 percent. The stock has risen 48 percent in the last 12 months.
