Delta stock is up in trading at $30.19 at 09:52 AM EDT.

Delta stock (NYSE:DAL) rose in premarket trading on Thursday, as the airline company beat expectations with a $695 million Q3 profit thanks to higher fares and strong summer demand.

The quarter saw an 11% increase in revenue. With an operating margin of 10.4%, the operating income was $1.5 billion. Also, Delta Air Lines got a record $1.4 billion in one quarter from American Express credit cards and expects to get $5.5 billion from the cards this year. Hurricane Ian’s effect on September’s income of $35 million was due to cancellations and a drop in bookings to areas affected by the storm. In October, a comparable effect is anticipated.

Looking forward According to Delta CEO Ed Bastian, the airline will have a very successful holiday season. “Consumers are still in generally good health. Spending has been delayed, but it has been delayed on the purchase of goods.” According to Delta, it has enough personnel on hand to handle the spike in holiday travel.

Predictions and Outlook for Delta Stock

In contrast to the consensus estimate of $0.80, Delta projects Q4 EPS of $1.00 to $1.25. Delta Air Lines (NYSE:DAL) issued the following press release: missed by $0.02 on Q3 non-GAAP EPS of $1.51. beats by $360 million on revenue of $13.98 billion (+52.8% year on year). adjusted revenue of $12.84 billion, versus a consensus of $12.83 billion. “This quarter marked the biggest revenue and unit revenue quarter in Delta’s history, with adjusted revenue increasing by 3% and unit revenues increasing by 23% when compared to 2019. Our results, which include another quarter of record co-brand compensation and ongoing premium product outperformance, highlight the power of our brand and the variety of our revenue sources, “said Glen Hauenstein, president of Delta. We anticipate a 5 to 9 percent increase in revenue for the December quarter compared to the December quarter of 2019. This is due to improved business travel and strong local and international demand.

In pre-market activity on Thursday, shares of Delta Air Lines increased 4.31%. United Airlines and American Airlines Group both had gains of more than 2%. Southwest Airlines moved up 1.21%, while JetBlue Airways posted a 1.55% advance.

Wall Street Anticipates A Rise In Earnings For Delta Air Lines (Delta Stock), Which Will Report Its Results The Following Week

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