Why United Airlines Shares Are Ascending Today

United Airlines Holdings Inc UAL shares are trading higher Thursday after the company reported financial results and announced it expects to return to profitability in the second quarter. 

United reported first-quarter revenue of $7.57 billion, which came in below the $7.68 billion estimate, according to data from Benzinga Pro. The airline reported a quarterly earnings loss of $4.24 per share, which missed the estimate for a loss of $4.21 per share. 

However, United said it expects to return to profitability in the second quarter on a strong operating revenue outlook, including total revenue per available seat mile of approximately 17% over 2019, representing the strongest second-quarter revenue guidance in the company's history.

Operating margin is expected to be about 10% in the second quarter. 

See Also: Why American Airlines Shares Are Rising

UAL 52-Week Range: $30.54 - $60.58

The stock was up 8.66% at $50.55 at time of publication.

Photo: courtesy of United Airlines.