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Norfolk Southern profit more than doubles to beat expectations as railway revenue rises 34%

·1 min read
Norfolk Southern profit more than doubles to beat expectations as railway revenue rises 34%
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Norfolk Southern Corp. reported Wednesday second-quarter profit that more than doubled to beat expectations, as revenue growth was more than triple the increase in costs. The railroad operator's stock was still inactive in premarket trading. Net income rose to $819 million, or $3.28 a share, from $392 million, or $1.53 a share, in the year-ago period. The FactSet consensus for earnings per share was $2.97. Railway operating revenue grew 34.2% to $2.80 billion, beating the FactSet consensus of $2