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With summer travel season in full swing, United Airlines breaks into the black

United Airlines is making money after a slow start to the year.

The airline's net income in the second quarter hit $789 million, topping Wall Street expectations and marking a turnaround from the first quarter when United was the only major U.S. carrier to report a loss.

Shares are up more than 5 percent before the opening bell.

The company also said Thursday that it will buy back up to $1 billion in shares over the next three years.

United says that excluding special items, it would have earned $2.34 per share. Analysts surveyed by FactSet were expecting $2.19.

Revenue is up 3.3 percent to $10.33 billion, slightly higher than Wall Street forecasts.

Shares of United Continental Holdings Inc. rose $1.18 to $46 in premarket trading.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.96% up 3.94%  
15 Y Fixed Graph 3.08% up 3.03%  
30 Y Fixed Jumbo Graph 4.25% up 4.17%  
5/1 ARM Graph 3.33% -- 3.33%  
5/1 Jumbo ARM Graph 3.16% up 3.12%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.33% up 4.32%  
$50K HELOC Graph 4.06% -- 4.06%  
$30K Loan Graph 5.05% -- 5.05%  
$50K Loan Graph 4.48% -- 4.48%  
$75K Loan Graph 4.50% -- 4.50%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.95% up 2.93%  
36 M Used Graph 3.50% up 3.48%  
48 M New Graph 3.23% up 3.22%  
48 M Used Graph 3.03% dw 3.04%  
60 M New Graph 3.25% up 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% -- 0.39%  
1 yr Graph 0.72% -- 0.72%  
5 yr Graph 1.51% up 1.50%  

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