CALGARY, Alberta (AP) _ Canadian Pacific Railway Ltd. (CP) on Tuesday reported first-quarter profit of $305 million.

On a per-share basis, the Calgary, Alberta-based company said it had profit of $2.22. Earnings, adjusted for non-recurring costs, were $3.30 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.86 per share.

The railroad posted revenue of $1.52 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.41 billion.

Canadian Pacific shares have dropped 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $216.43, a decrease of 1% in the last 12 months.

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

Automated Insights, source Associated Press News