Business

EARNINGS ROUNDUP

Delta has small profit for quarter

MINNEAPOLIS — Delta Air Lines said government spending cuts and weak demand from vacationers are hurting revenue this month.

Lower fuel prices should help to offset the decline, the airline said on Tuesday.

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The world’s second-biggest airline earned $7 million, or a penny per share, for the quarter that ended March 31. Not counting special items, it would have earned $85 million, or 10 cents per share — better than analysts had been expecting. The company reported net income of $124 million in the year-earlier quarter, but excluding special items it lost $39 million, or 5 cents per share.

Revenue rose 1 percent to $8.5 billion, matching analysts’ expectations.

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The first three months of the year are often money-losers for airlines. Delta says this was its best first-quarter operating profit in more than a ­decade.

Delta’s oil refinery near Philadelphia lost $22 million because of ongoing supply disruptions from Hurricane Sandy and an outage in its gasoline production unit.

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