Reported about 19 hours ago
Delta Air Lines has significantly reduced its earnings and revenue forecasts for the first quarter, attributing the changes to declining consumer and corporate confidence due to economic uncertainties. Following this announcement, shares dropped 13.2% in after-hours trading, marking a 16.8% decline for the year. Despite underlying revenue trends for premium and international services remaining strong, the airline anticipates a revenue growth of only 3% to 4%, down from a previous estimate of 7% to 9%. The company is also forecasting earnings per share between 30 and 50 cents, compared to the earlier guidance of 70 cents to $1.
Source: YAHOO