United Continental Holdings reported a $538 million second-quarter net profit despite a 30 percent year-over-year increase in fuel costs on a pro-forma basis. Unit passenger revenue grew 9 percent year over year, while consolidated yield, a representation of average fare paid, increased 10 percent year over year, both on a pro-forma basis. Executives during an earnings call pointed to a strong pricing environment and stable corporate travel demand, despite what CEO Jeff Smisek called a "tepid economic environment in the U.S."
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