American Airlines Group Inc's (AAL.O) quarterly profit plunged 44 percent, hurt by a big provision for income tax.
The world's largest airline earned $950 million, or $1.68 per share, in the second quarter ended June 30 compared with $1.70 billion, or $2.41 per share, a year earlier.
Excluding items, the company earned $2.81 per share.
Analysts on average expected a profit of $1.68 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.
Provision for income tax surged to $543 million from $15 million.
By: Reuters.
Reporting: Sweta Singh (Bengaluru) and Jeffrey Dastin (New York).
Editing: Kirti Pandey.
Photo: The Street.
Review: Emerging Market Formulations & Research Unit, FLAGSHIP RECORDS.
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