07:21 AM EDT, 10/24/2024 (MT Newswires) -- Southwest Airlines ( LUV ) reported Q3 non-GAAP net income Thursday of $0.15 per diluted share, down from $0.38 a year earlier.

Analysts polled by Capital IQ expected $0.04.

Revenue for the quarter ended Sept. 30 was $6.87 billion, compared with $6.53 billion a year earlier.

Analysts polled by Capital IQ expected $6.79 billion.

The company said it plans to repurchase an initial $250 million of common shares under its $2.5 billion share repurchase authorization through an accelerated share repurchase program.

Shares of Southwest Airlines ( LUV ) were up over 3% premarket.

Price: 31.80, Change: +1.07, Percent Change: +3.48