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Air Lease: 2Q Earnings Snapshot

LOS ANGELES (AP) _ Air Lease Corp. (AL) on Thursday reported second-quarter net income of $128.3 million.

The Los Angeles-based company said it had net income of $1.10 per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.

The company that leases planes to airlines posted revenue of $471.4 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $487.7 million.

Air Lease shares have risen 33% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $40.18, a fall of slightly more than 9% in the last 12 months.

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