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Canadian Pacific matches Street 1Q forecasts

CALGARY, Alberta (AP) _ Canadian Pacific Railway Ltd. (CP) on Wednesday reported first-quarter profit of $326.5 million.

The Calgary, Alberta-based company said it had net income of $2.22 per share. Earnings, adjusted for non-recurring gains, were $1.90 per share.

The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of $1.90 per share.

The railroad posted revenue of $1.21 billion in the period, also matching Street forecasts.

Canadian Pacific shares have increased 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $149.89, climbing slightly in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CP at https://www.zacks.com/ap/CP


Keywords: Canadian Pacific, Earnings Report