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Delta is rallying after reporting solid earnings (DAL)

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Delta shares are trading higher by 3.8% at $57.98 a piece after the company reported a beat on both the top and bottom lines.

Delta reported earnings of $0.96 per share on operating revenue of $10.25 billion. Wall Street analysts had predicted earnings of $0.88 on revenue of $10.13 billion.

Higher costs during the third quarter were offset by increased traffic over the holiday season. The company said its holiday momentum will continue into the first quarter and its closely-watched total unit revenue number will increase between 2.5% and 4.5%.

Delta is the first airline, and one of the first public companies, to report its fourth-quarter results. Other airlines, including American and Southwest, were up following the good news from Delta.

Delta is up 2.27% this year.

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