LOS ANGELES (AP) _ Air Lease Corp. (AL) on Thursday reported third-quarter profit of $155.8 million.
On a per-share basis, the Los Angeles-based company said it had net income of $1.34.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The company that leases planes to airlines posted revenue of $530.9 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $526.2 million.
Air Lease shares have risen 54% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.63, a climb of 15% in the last 12 months.