Copa Holdings tops Street 3Q forecasts

PANAMA CITY (AP) _ Copa Holdings SA (CPA) on Wednesday reported third-quarter net income of $103.8 million.

On a per-share basis, the Panama City-based company said it had net income of $2.45. Earnings, adjusted for non-recurring gains, were $2.38 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.16 per share.

The holding company for Panama's national airline posted revenue of $657.2 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $633.4 million.

Copa Holdings shares have risen 34 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $122.12, a rise of 33 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPA at https://www.zacks.com/ap/CPA