Alaska Air tops 2Q profit forecasts

    SEATTLE (AP) — Alaska Air Group Inc. (ALK) on Wednesday reported second-quarter earnings of $296 million.

    The Seattle-based company said it had profit of $2.38 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $2.51 per share.

    The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.50 per share.

    The airline posted revenue of $2.1 billion in the period, which met Street forecasts.

    Alaska Air shares have dropped roughly 2 percent since the beginning of the year. The stock has increased 33 percent in the last 12 months.

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