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Norfolk Southern profit tops Wall Street view

(Adds details on results, paragraphs 4, 5)

Jan 24 (Reuters) - Norfolk Southern Corp reported a quarterly profit on Thursday that topped Wall Street's view on volume and pricing gains.

The fourth-largest U.S. railroad's fourth-quarter profit was $702 million, or $2.57 per share, down from $3.97 billion, or $13.79 per share, last year when it booked a large tax gain from the changes to U.S. tax law.

Analysts, on average, expected a profit of $2.29 per share for the latest quarter, according to IBES data from Refinitiv.

Operating revenues increased 9 percent to $2.9 billion increased 9 percent, after volume increased 3 percent. The railway operating ratio, or operating expenses as a percentage of revenues, was 62.8 percent. A lower ratio means more efficiency and higher profitability. (Reporting by Lisa Baertlein in Los Angeles Editing by Leslie Adler and David Gregorio)