Norfolk Southern beats 2Q profit forecasts

Markets Associated Press

Norfolk Southern Corp. (NSC) on Wednesday reported second-quarter net income of $497 million.

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On a per-share basis, the Norfolk, Virginia-based company said it had net income of $1.71.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.

The railroad posted revenue of $2.64 billion in the period, which matched Street forecasts.

Norfolk Southern shares have climbed 10 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 11 percent. The stock has climbed 29 percent in the last 12 months.

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

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Keywords: Norfolk Southern, Earnings Report