Delta's 2Q Results Beat Market Estimate On The Back Of Lower Fuel Costs

Delta Air Lines opened the earnings season yesterday on a positive note, posting an adjusted profit of $1.27 per share for the June quarter, comfortably exceeding the market's estimate of $1.22 per share. The Atlanta-based airline reported a Non-GAAP profit of over $1 billion due to the fuel cost savings, despite a decline in its passenger unit revenue during the latest quarter. While the airline projects its unit revenue to continue to fall due to rising competition in its international markets...