CSX Shares Rise As Third-quarter Results Beat Wall Street's Estimates

CSX Corp. shares rose in Wednesday's extended session after the railroad operator posted better-than-expected quarterly results. CSX reported its third-quarter earnings fell to $455 million, or 48 cents a share, from $507 million, or 52 cents a share, a year earlier. Revenue shrank 8% to $2.71 billion as coal volume slumped 21%. Analysts surveyed by FactSet had projected earnings per share of 45 cents and revenue of $2.69 billion. CSX gained 2.5% after hours.