The Clap
United Airlines (NASDAQ: UAL) is expecting to record a profit for the end of 2022, as recovery from the pandemic continues.
The Deets
The company recorded earnings per share of $2.81, smashing analysts’ estimate of $2.28.
In addition to that, the company recorded revenues of $12.88 billion, more than the expected $12.75 billion.
Travel season during the summer proved to be strong, after COVID restrictions significantly impacted demand.
Why this Matters
United Airlines’ stock jumped 3% following the earnings release.
The airline sector, unlike other sectors, has had an upbeat outlook. Strong travel demand to Europe was one of the main drivers of the better-than-expected earnings.
