Higher volumes, lower tax rate lifts Norfolk Southern quarterly profit

Reuters
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NEW YORK, April 25 (Reuters) - Norfolk Southern Corp , one of the largest U.S. railroads by revenue, reported a rise in quarterly net profit on Wednesday, driven by higher volumes of the freight it carries and a lower effective tax rate.

The Norfolk, Virginia-based railroad operator posted first-quarter net income of $552 million, or $1.93 cents per share, up from $443 million, or $1.48 per share a year earlier.

(Reporting by Eric M. Johnson in New York Editing by Chizu Nomiyama)

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