JetBlue Airways (NASDAQ:JBLU) saw its stock decline by more than 6% intra-day today following the release of its fourth-quarter earnings, which revealed a larger-than-expected loss.
The airline posted a quarterly loss of 31 cents per share, which was more than the anticipated loss of 27 cents per share. However, JetBlue surpassed average analyst expectations in terms of operating revenue.
For the quarter, JetBlue’s operating revenue totaled $2.33 billion, exceeding the consensus estimate of $2.28 billion. Breaking down the revenue, passenger operating revenue reached $2.17 billion, which was higher than the forecasted $2.13 billion. The airline also reported available seat miles at 17.01 billion, surpassing the expected 16.86 billion.
Nevertheless, JetBlue’s revenue passenger miles fell short, coming in at 13.63 billion against the projected 13.85 billion. The average passenger fare for the quarter was significantly higher at $211.83, well above the estimated $199.47. Additionally, the yield per passenger mile was reported at 15.89 cents.