11:31 AM EDT, 04/23/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

JetBlue Airways ( JBLU ) shares were down 17% in recent Tuesday trading after the company posted a wider Q1 adjusted loss year-over-year and updated its 2024 revenue outlook.

The company reported a Q1 adjusted net loss of $0.43 per diluted share, widening from a loss of $0.34 a year earlier.

Analysts surveyed by Capital IQ expected a loss of $0.52.

Operating revenue for the quarter ended March 31 was $2.21 billion, compared with $2.33 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.20 billion.

The airline operator expects Q2 revenue to decline 6.5% to 10.5% from a year earlier. JetBlue ( JBLU ) said it now expects 2024 revenue to decline by low-single digits. In January, the company projected full-year revenue to be flat.

Separately, JetBlue ( JBLU ) Chief Executive Joanna Geraghty said the company is postponing its Investor Day to the fall from its original date of May 30.

Price: 6.24, Change: -1.28, Percent Change: -16.98