Why Azul Stock Is Flying Higher Today
Shares of Azul (NYSE: AZUL) are flying higher today, up by 10% as of 12:45 p.m. EST, after the Brazilian airline reported third-quarter earnings. The results missed expectations, but the company is optimistic about the travel industry's recovery.
Revenue in the third quarter doubled on a sequential basis to 805.3 million Brazilian reals ($148.3 million), which missed the consensus estimate of 937.3 million reals ($172.3 million). That resulted in a net loss of 1.2 billion reals, or 3.57 reals per share, which was worse than the 2.12 reals per share in red ink that analysts were expecting. That bottom-line result translates into a net loss of $1.99 per American depositary receipt (ADR).
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Source Fool.com
