Delta 3Q profit surges on fuel contract gains

8:23 AM, Oct 24, 2012   |    comments
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The Atlanta airline says it earned $1.05 billion, or $1.23 per share, compared with $549 million, or 65 cents, a year earlier. 

Excluding one-time items, it earned $768 million or 90 cents - just shy of Wall Street expectations of 91 cents. 

Revenue rose 1 percent to $9.92 billion, also just under analysts' estimate of $9.93 billion, according to FactSet. 

Delta Air Lines Inc. says revenue was driven by its effort to trim seats according to demand. Fuel costs dropped 23 percent. 

Overall, operating expenses fell 4 percent. Other expenses related to items like debt and interest fell 18 percent.

(Copyright 2012 by The Associated Press. All Rights Reserved.)