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3 hours ago
- Yahoo
Southwest misses profit expectations as weak domestic demand erodes fares
(Reuters) -Southwest Airlines missed Wall Street estimates for second-quarter profit on Wednesday, pressured by weak domestic travel demand that has led to more empty seats and softer fares. Shares of the carrier were down 2% in aftermarket trading. The budget carrier reported an adjusted profit per share of 43 cents, compared with analysts' average expectations of 51 cents, according to data compiled by LSEG. In April, several major U.S. carriers scrapped their financial forecasts, citing uncertainty linked to President Donald Trump's broad tariff measures and government spending cuts, which pressured consumers to scale back travel plans. Since then, airline executives and analysts have signaled that demand trends and the broader travel environment are showing signs of steadiness. Even so, the domestic market remains under pressure, with cost-conscious travelers continuing to exercise caution as household budgets tighten. Summer, typically the peak money-making season for airlines, is falling short this year as sluggish demand for standard economy seats forces carriers to cut fares, undermining their pricing power. Delta Air Lines and United Airlines have seen strong revenue gains from premium cabins, buoyed by affluent travelers willing to pay for upgrades. By contrast, low-cost carriers such as Southwest, which relies heavily on standard economy seats, are under pressure to maintain profitability as price-sensitive travelers remain cautious with discretionary spending. Southwest reported operating revenue of $7.24 billion in the quarter through June, compared with $7.35 billion a year earlier.
Yahoo
11 hours ago
- Yahoo
MasterCard price target lowered to $612 from $640 at Truist
Truist lowered the firm's price target on MasterCard (MA) to $612 from $640 and keeps a Buy rating on the shares. Truist likes the setup for the FinTech sector as earnings results in totality should be solid, and the group has underperformed of late, the analyst tells investors in a research note. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on MA: Disclaimer & DisclosureReport an Issue Here's what Wall Street experts are saying about GM and Ford ahead of earnings American Airlines, MasterCard announce extension of partnership Japan Just Found a Way to Earn XRP Without Spending a Yen Starbucks downgraded, Oracle initiated: Wall Street's top analyst calls MasterCard resumed with a Buy at Deutsche Bank Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 hours ago
- Yahoo
Hilton lifts 2025 profit forecast on US demand recovery
(Reuters) -Hotel operator Hilton Worldwide lifted its forecast for 2025 profit, as travel demand in the U.S. recovers from a downturn in March and April. Earlier this year, domestic travel took a hit after U.S. President Donald Trump's aggressive tariff announcements triggered fears of an economic recession that led consumers to rein in discretionary expenses. Some travel companies, such as Delta Air Lines and United Airlines have recently flagged that travel demand in the U.S. has steadied, although the recovery has been slower than anticipated. McLean, Virginia-based Hilton now expects full-year adjusted profit to be in the range of $7.83 and $8 per share, compared with its earlier forecast of $7.76 to $7.94. The Waldorf Astoria-parent posted an adjusted profit of $2.20 per share in the second quarter, compared with $1.91 a year ago. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data