JetBlue Airways (JBLU, Financial) experienced a significant drop of over 15%, with shares trading at $6.22. The airline reported a slight increase in third-quarter revenue, rising from $2.35 billion in the previous year to $2.37 billion, slightly beating analyst expectations of $2.36 billion. However, the company posted an adjusted loss of 16 cents per share, which was better than the anticipated loss of 21 cents per share.
Looking ahead, JetBlue projected a revenue decline of 3% to 7% for the fourth quarter, and a forecasted drop of 4% to 5% in 2024. These projections are more pessimistic than analysts' expectations, which estimated declines of 2.2% and 3.3%, respectively.
