Delta Air Lines, BlackRock Beat Earnings Estimates

Delta Air Lines and BlackRock released their third quarter earnings reports before opening bell this morning. Delta posted adjusted earnings of $1.74 per share, a 45% year over year increase, on revenue of $11.1 billion, compared to the analyst estimates of $1.72 per share in earnings and $11.1 billion in revenue.

BlackRock posted earnings of $5 per share and revenue of $2.91 billion. In last year’s third quarter, the firm reported earnings of $5.37 per share and revenue of $2.85 billion. Analysts had been expecting earnings of $4.57 per share and revenue of $2.82 billion.

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Delta Air Lines swings to higher profit

Delta’s net earnings were $1.65 per share, compared to 42 cents per share last year. Operating revenue fell 0.6% or by $71 million due to $235 million in currency headwinds. Delta reported a 4.9% decline in passenger revenue, which includes about 2.5 points of negative impact from currency exchange rates.  Total domestic revenue was $6.3 billion, and total passenger revenue, including international, was $9.6 billion. Delta logged $196 million in cargo revenue and $1.3 billion in other revenue.

For the December quarter, Delta management expects to see an impact of $175 to $1.80 per share from fuel prices and an operating margin of between 16% and 18%. The airline expects passenger unit revenue to decline by between 2.5% and 4.5%.

Shares of Delta Air Lines rose as much as 1.59% to $48.50 per share in premarket trading this morning.

BlackRock posts lower profit

BlackRock reported $50 billion in total net inflows for the third quarter. Long term net inflows increased from $29 billion last year to $35 billion this year. In the previous quarter, long term outflows were $7.3 billion, marking the firm’s first outflow in three years. BlackRock had $4.51 trillion in assets under management as of the end of the quarter, a slight decline from the $4.52 trillion the firm managed at the end of last year’s third quarter.

As of this writing, shares of BlackRock were flat at $315.12 per share.