(Reuters) - United Continental Holdings Inc on Wednesday reported a first-quarter profit above analysts' expectations and said it would slow its growth plans because flight capacity across the industry has exceeded passenger demand, pushing down prices.
The No.3 U.S. airline by traffic earned $313 million in the first quarter. On an adjusted basis, profit fell 25 percent to $435 million, or $1.23 per diluted share, in part because United began recording non-cash taxes. Analysts on average estimated United would earn about $420 million, or $1.18 per diluted share, according to Thomson Reuters I/B/E/S.
(Reporting By Jeffrey Dastin in New York; Editing by Bernard Orr)
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