Southwest profit soars on tax bump

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Southwest profit soars on tax bump
FILE - In this Aug. 26, 2016, file photo, a Southwest Airlines jet makes its approach to Dallas Love Field airport, in Dallas. Southwest Airlines Co. reports earnings, Thursday, Jan. 25, 2018. (AP Photo/Tony Gutierrez, File)

DALLAS (AP) — Southwest Airlines is reporting that fourth-quarter net income soared to .89 billion on a massive tax benefit.

Per-share profit for the Dallas carrier was .18, but 77 cents when adjusted for one-time gains, including .4 billion due to sweeping changes in U.S. tax law. Per-share earnings are still a penny better than Wall Street expected, according to a survey by Zacks Investment Research.

Revenue, at .27 billion, also edged out analyst projections of .24 billion.

Shares of Southwest Airlines Co. faded slightly before the opening bell Thursday.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LUV at https://www.zacks.com/ap/LUV