Southwest Airlines reported better-than-expected earnings Thursday, sending its shares higher ahead of the opening bell. The Dallas-based carrier reported a third-quarter profit of 11 cents a share, beating analysts’ estimates of 6 cents,

DALLAS (AP) — Southwest Airlines' third-quarter revenue rose to a record high but profit fell nearly two-thirds, to $67 million, on higher costs for labor and other expenses. The airline, which is under pressure from hedge fund Elliott Investment Management to boost profit, said Thursday that adjusted earnings beat Wall Street expectations.