US Airways Net Income Dips On Higher Taxes
Get Breaking News First
DALLAS (AP) - Higher taxes are reducing US Airways’ profit, but the airline’s results beat expectations.
US Airways Group Inc. said Wednesday that third-quarter net income was $216 million, or $1.04 per share. That’s down 12 percent from $245 million, or $1.24 per share, a year ago.
The difference: In this year’s quarter, US Airways owed $120 million in income taxes compared with just $1 million last year.
Excluding costs of its proposed merger with American Airlines, US Airways says it earned $1.16 per share, four cents better than analysts were expecting.
Revenue rose 9 percent to $3.86 billion, a bit higher than analysts’ forecast of $3.84 billion.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- No Charges For 3 North Richland Hills Officers In Fatal Shooting
- Convicted Drug Dealer, Busted By Arlington Police, Gets 99 Years
- Official: At Least 2 Dead In Kansas Airport Crash
- Heisman Watch: TCU’s Trevone Boykin This Year’s Hidden Gem
- Playoff Pinch Hits: Giants’ Bumgarner Is The New World Series Hero
- Sasquatch Genome Project Reveals Bigfoot Photos
- Tricks To Using The New iPhone Software
- Enter The ‘Show Your Spirit’ Sweepstakes
- Mexican Monster Truck Wreck Kills 8, Hurts Dozens
- Nolan, Daniels Involved In Heated Confrontation
- PHOTOS: Your Pet Pictures