Shares of JetBlue traded notably higher Wednesday after the airline released its 3rd quarter results which largely disappointed.
By the numbers, JetBlue said net income was $35 million, or 11 cents per share, compared with $59 million, or 18 cents per share, in the year-earlier period.
The Wall Street average forecast for JetBlue was 13 cents per share, according to Thomson Reuters I/B/E/S.
JetBlue reported a 16 percent increase in operating revenues at $1.2 billion and a 22 percent increase in expenses, including a $162 million jump in fuel costs.
The carrier, based at New York's Kennedy airport, said operating income took an estimated $8 million hit from more than 1,400 flight cancellations due to Hurricane Irene.
Why did the stock climb?
Sales jumped last quarter with results also showing JetBlue's average fare was up about 9 percent to $154.88 during the quarter. It also benefited from new efforts to court higher-paying business travelers in Boston.
So, how should you play this stock? Don't make a move before you check out our exclusive conversation with Jet Blue president and chief executive David Barger.
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