Shares of JetBlue Airways (NASDAQ:JBLU) dipped over 14% intra-day today following the airline’s revised full-year revenue projections.
In the third quarter, JetBlue recorded a per-share loss of 39 cents with a revenue of $2.35 billion. These figures disappointed market expectations, which had predicted a per-share loss of 20 cents on revenue of $2.38 billion.
For the upcoming quarter, JetBlue anticipates its per-share loss to widen to 45 cents, in contrast to analyst predictions of a 15-cent loss. The projected full-year loss is estimated at 55 cents per share, compared to the anticipated loss of 24 cents per share.
The company also forecasts a revenue drop of between 6.5% and 10.5% in the fourth quarter. The revised guidance for the full year suggests a decrease in revenue ranging from 3% to 5%.