PANAMA CITY (AP) — PANAMA CITY (AP) — Copa Holdings SA (CPA) on Wednesday reported fourth-quarter earnings of $191.8 million.

On a per-share basis, the Panama City-based company said it had net income of $4.55. Earnings, adjusted for non-recurring gains, were $4.47 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.90 per share.

The holding company for Panama's national airline posted revenue of $916.9 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $893.6 million.

For the year, the company reported profit of $518.2 million, or $12.89 per share. Revenue was reported as $3.46 billion.

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