Southwest Quarterly Profit Jumps 42 Percent

Dallas-based Southwest Airlines Co. announced its second-quarter earnings, proving that it carries more passengers than any other U.S. airline.

The company posted a 42 percent rise in profit due to higher passenger revenues and declining fuel costs. Traffic grew more than 5 percent compared to the same time last year.

Operating revenues rose 12 percent to $4.62 billion and shares have gained 2.02 percent in premarket trading.