MIRAMAR, Fla. (AP) _ Spirit Airlines Inc. (SAVE) on Wednesday reported third-quarter profit of $83.5 million.
On a per-share basis, the Miramar, Florida-based company said it had net income of $1.22. Earnings, adjusted for non-recurring costs, were $1.32 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The airline posted revenue of $992 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $989 million.
Spirit shares have decreased 35% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $37.75, a decline of 25% in the last 12 months.