United Airlines (UAL) stock fell 2% in extended trading on Wednesday after the company's third-quarter revenue missed Wall Street's estimates.

The carrier reported revenue of $15.23 billion for the quarter ended on Sept. 30, while analysts expected it to post revenue of $15.33 billion, according to Stocktwits data. However, its third-quarter adjusted earnings of $2.78 per share topped expectations of $2.65 per share.

For the fourth quarter, the company expects earnings between $3 and $3.50 per share, far exceeding the $2.83 per share in earnings estimated by Wall Street.

“We expect the fourth quarter of 2025 to have the highest total operating revenue for a single quarter in company history,” United said.

Premium Push Paying Dividend

In the third quarter, United's premium cabin revenue grew 6% compared to last year, while revenue from basic economy rose by 4%. The company added that loyalty revenue rose 9% and cargo segment revenue grew 3%.

The earnings report showed demand for the seats at the front-end of the plane is growing at a faster pace than the economy, as corporate and affluent travelers splurge on expensive seats. Last week, rival Delta Air Lines also reported a 9% revenue growth in high-end seats.

United has pledged to invest billions to refurbish its fleet by providing passengers with complimentary Wi-Fi, seatback screens, and extra legroom.

“Those investments over almost a decade, combined with great service from our people, have allowed United to win and retain brand-loyal customers, leading to economic resilience even with macroeconomic volatility through the first three quarters of the year and significant upside as the economy and demand are improving in the fourth quarter,” CEO Scott Kirby said.

What Is Retail Saying?

Retail sentiment on Stocktwits about United was in the 'extremely bullish' territory at the time of writing, with most brushing aside concerns surrounding the after-hours stock move.

“Nice beat with earnings growth accelerating even more rapidly than expected,” one user wrote before adding that the stock was 'unbelievably cheap.'

“Will definitely be in the green tomorrow,” another trader said

United Stock To Double In Next Two Years?

Banking on the robust demand for premium seats, United is rapidly expanding capacity, bucking a nationwide trend where smaller competitors are reducing the number of flights for efficiency gains. Last week, the company announced new transatlantic flights to Italy, Spain, and Croatia.

According to a Bloomberg report, Candlestick Capital Management Founder Jack Woodruff said he expects shares of United Airlines to grow by 2.5-3.5 times in the next 18 to 24 months as ongoing structural changes in the air travel industry are under-appreciated by the market.

United's stock has grown 7% this year.

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