Norfolk Southern Corp. (NSC) on Wednesday reported third-quarter net income of $702 million.
On a per-share basis, the Norfolk, Virginia-based company said it had net income of $2.52.
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The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.44 per share.
The railroad posted revenue of $2.95 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $2.9 billion.
Norfolk Southern shares have risen slightly more than 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 2.5 percent. The stock has increased 19 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on NSC at https://www.zacks.com/ap/NSC
