Ryanair: earnings beat forecasts on Easter timing.
(CercleFinance.com) - On Monday Ryanair unveiled quarterly results that came in well ahead of consensus, boosted by the celebration of Easter in April.
The Irish low-cost carrier, Europe's largest, said revenue for the three months ended June rose 13 per cent to 1.9 billion euros, ahead of an average forecast of 1.85 billion euros.
The first-quarter net profit of 397 million euros (+55% year-on-year) was also well ahead of a 366 million forecast.
"The results followed an increasingly familiar pattern from European airlines of a strong performance well ahead of consensus on Easter, combined with continued caution on the unit revenue outlook for the remainder of the year," said analysts at Liberum, keeping a "buy" rating on the shares with a target price of 21 euros.
In its statement, Ryanair said it expects the pricing environment to remain very competitive into the second half of the financial year.
In London, shares in Ryanair were 0.8 per cent down, at 17.3 euros, after the results.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The Irish low-cost carrier, Europe's largest, said revenue for the three months ended June rose 13 per cent to 1.9 billion euros, ahead of an average forecast of 1.85 billion euros.
The first-quarter net profit of 397 million euros (+55% year-on-year) was also well ahead of a 366 million forecast.
"The results followed an increasingly familiar pattern from European airlines of a strong performance well ahead of consensus on Easter, combined with continued caution on the unit revenue outlook for the remainder of the year," said analysts at Liberum, keeping a "buy" rating on the shares with a target price of 21 euros.
In its statement, Ryanair said it expects the pricing environment to remain very competitive into the second half of the financial year.
In London, shares in Ryanair were 0.8 per cent down, at 17.3 euros, after the results.
Copyright (c) 2017 CercleFinance.com. All rights reserved.