(Adds details of results)
July 27 (Reuters) - Southwest Airlines Co on Wednesday reported second-quarter results that beat analyst expectations, even as profit fell following wage hikes for its pilots and flight attendants.
The No. 4 U.S. airline by passenger traffic said its net income in the period fell 9 percent to $746 million, or $1.23 per share, following the implementation late last year of amended collective bargaining agreements with its flight crew.
One-time costs related to new technology, including a new reservation system in May, also weighed on expenses.
Excluding special items, the company earned $1.24 per share, beating analysts' consensus forecast of $1.20 per share, according to Thomson Reuters I/B/E/S.
The Dallas-based airline also reported stronger-than-expected operating revenue in the quarter, which grew 6.7 year-over-year to a quarterly record of $5.7 billion.
Southwest credited robust demand and higher fares, which were up 1.5 percent from a year earlier, for its solid financial performance.
Unit revenue, which compares sales to flight capacity, increased 1.5 percent, despite slight pressure from the implementation of the new reservation system.
Southwest said it expects the negative impact on unit revenue from the transition to the new reservation system to continue into the third quarter, and forecast year-over-year growth of 1 percent in that metric. (Reporting by Alana Wise in New York and Arunima Banerjee in Bengaluru; Editing by Amrutha Gayathri and Bernadette Baum)