Oct 23, 7:46 AM EDT

Southwest beats Street 3Q forecasts


DALLAS (AP) -- Southwest Airlines Co. (LUV) on Thursday reported earnings of $329 million in its third quarter.

The Dallas-based company said it had profit of 48 cents per share. Earnings, adjusted for non-recurring costs, were 55 cents per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The airline posted revenue of $4.8 billion in the period, also surpassing Street forecasts. Analysts expected $4.77 billion, according to Zacks.

Southwest shares have increased 82 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 4 percent. The stock has more than doubled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. LUV stock research report from Zacks: http://www.zacks.com/ap/LUV

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Keywords:Southwest,Earnings Report,Priority Earnings

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