UPDATE (2:39 p.m.ET): "Southwest reported record revenue and unit revenue in the second quarter and said the strong growth trends are continuing." That's from TheStreet.com, one of numerous outlets reporting today on Southwest's second-quarter earnings report.

The quarter was a good one for the low-cost giant, which "posted a profit of $112 million, or 15 cents per share, for the second quarter of 2010, as [it] saw traffic levels rise and total operating revenue reach a quarterly record of $3.2 billion, " the Dallas Business Journal writes.

The Fort Worth Star-Telegram says that "excluding one-time accounting charges, Southwest posted a net income of $216 million, or 29 cents per share, which beat Wall Street analysts' estimates of 27 cents per share."

Forbes.com cites "rising travel demand and record traffic levels" for helping the airline to a "strong second quarter, which featured a 23% jump in profits." The Wall Street Journal adds "Southwest, the biggest carrier of passengers within the U.S., outperformed the industry during the recession as its discount model resonated with customers."

The Las Vegas Sun writes Southwest CEO Gary Kelly "said in a release … that revenue trends could continue in the third quarter with record loads anticipated in July. He attributed the airline's revenue success to the company's policy of not charging for bags and excellent customer service offered by employees."

Bloomberg News echoes that theme, saying Southwest cited "its policy of not charging for checked bags helped fill planes. … Southwest is the only major U.S. carrier that allows passengers to check two bags at no charge, a policy it says has helped woo travelers from rivals. The company's planes flew at record capacity for 11 consecutive months until June."