Continental Airlines Swings To Profit (CAL)

Houston, Texas based Continental Airlines, Inc. CAL on Thursday morning released financial results that beat Wall Street earnings expectations. Continental Airlines, Inc. (CAL) reported that it swung to a 2nd quarter profit with net income of $233 million, or $1.46 per share, from a net loss of $213 million, or $1.72 per share, a year earlier. Excluding special items, the company earned $1.60 per share. Revenue surged 18.6% to $3.7 billion on the back of increased fares. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of $1.51 per share, on revenue of $3.71 billion. Analysts covering Continental Airlines' stock have a consensus price target of $33.56 per share. Read more from Benzinga's Company news.