AMR Corporation Narrows Loss, Beats Estimates (AMR)

Fort Worth, Texas-based AMR Corporation AMR announced on Wednesday morning that it beat consensus Wall Street estimates. AMR Corporation reported that its 4th quarter net loss narrowed to $97 million, or 29 cents per share, from a loss of $344 million, or $1.03 per share, a year earlier. Excluding special items, the company's losses came in at 21 cents per share. AMR Corporation reported revenue of $5.59 billion, up 10.3% from $5.06 billion a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for a loss of 33 cents per share, on revenue of $5.56 billion. CEO Gerard Arpey said, "We have set the stage for success – and our efforts are starting to produce meaningful results. In 2011, American will continue to enhance its own network and expand its relationship with quality carriers in the markets that are important to our customers. American is well positioned to capitalize on the opportunities unfolding in the marketplace. While the road forward is not without challenges, as we begin 2011, we are enthusiastic about the possibilities we see ahead." AMR Corporation (AMR) closed the previous trading day at $8.29 per share. Analysts covering the company's stock give it a consensus price target of $10.59 per share. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation. Read more from Benzinga's Company news.