JetBlue Airways Corporation (NASDAQ:JBLU) opened a bit weak yesterday but ended the session quite firmly with a gain of 6.65% on the back of the first quarter results of the current fiscal year. The company managed to beat the earnings estimates but the revenue came in line with the expectations, making it a solid if not a overwhelming performance.
The estimated earnings of $0.39 was beat with the figure of $0.40 and then JetBlue Airways Corporation (NASDAQ:JBLU) saw revenue of $1.40 billion from the passenger segment, a 13% growth on a y-o-y basis, and $115 million from other segments. The total revenue of $1.52 billion with the growth rate of 13% perfectly matched the consensus estimates. The operating margin improved to 16.6% against the 3.1% seen last year, a big jump.
The operating income of JetBlue Airways Corporation (NASDAQ:JBLU) came at $253 million, with pre-tax income of $222 million. The net income came at $0.40 per diluted share or $137 million. The revenue passenger miles increased by 11.1% to 9.62 billion and the company generated 11.4 billion available seat miles, against last year’s capacity of 10.4 billion available seat miles.
The reduction in aircraft fuel and related taxes helped the company to report a total operational expense of $1.27 billion for the quarter, 2.9% lower compared to the last year. The aircraft fuel expense saw a dramatic decline of 27.8% to $335 million, on the back of the much lower price of the crude oil in this year compared to the previous years.
Technically, the stock is trading not only at a 52-week high but at the highest level of a decade. The bottoming out process has taken the form of Saucer pattern and has achieved the minimum targets already. If the stock manages to stay above $17 on corrections, then the $30-$32 levels can definitely be tested once again.
