Continental Posts Profit After Selling Assets
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Continental Airlines Inc. reported a net profit of $47 million in the fourth quarter despite higher costs, lifting itself from a $109-million loss a year earlier by selling its interests in two travel websites.
The Houston-based carrier said it earned 67 cents a share, contrasted with a loss of $1.67 a year earlier.
Excluding income from sales of its interests in Hotwire and Orbitz Inc., Continental reported an operating loss of $38 million, or 58 cents a share.
Revenue for the fourth quarter was $2.2 billion, up from $2 billion a year earlier.
Shares of Continental fell 56 cents to $16.89 on the New York Stock Exchange.
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