United Continental Holdings had warned on Tuesday that June passenger revenue rose less than it had been expecting. The shortfall occurred because it didn’t correctly estimate the value of tickets that had been bought but not yet used to fly.
The company says it earned $339 million for the quarter, or $0.89 per share. Excluding special items, United would have earned $545 million, or a $1.41 per share.
Analysts surveyed by FactSet had been expecting profit of $1.65 a share. Revenue rose just over 1% to nearly $10 billion.