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Southwest Airlines (LUV) Stock Gaining as Earnings Top Estimates

NEW YORK (TheStreet) -- Shares of Southwest Airlines Co. (LUV - Get Report) are rising by 4.26% to $42.79 at the start of trading on Thursday morning, after the air carrier reported better than expected earnings results for the 2015 third quarter.

The company's adjusted earnings came in at 94 cents per diluted share, better than the 92 cents per share analysts surveyed by Thomson Reuters had forecast.

Southwest benefitted from the decline in oil prices, which decreased the cost of fuel, which is often an airline's largest expense.

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