JACKSONVILLE, Fla. (AP) _ CSX Corp. (CSX) on Wednesday reported second-quarter earnings of $499 million.
On a per-share basis, the Jacksonville, Florida-based company said it had profit of 65 cents.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The freight railroad posted revenue of $2.26 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $2.31 billion.
CSX shares have increased 1.5% since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 1%. In the final minutes of trading on Wednesday, shares hit $73.48, an increase of nearly 4% in the last 12 months.