JACKSONVILLE, Fla. (AP) _ CSX Corp. (CSX) on Wednesday reported third-quarter net income of $736 million.
On a per-share basis, the Jacksonville, Florida-based company said it had net income of 96 cents.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The freight railroad posted revenue of $2.65 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $2.7 billion.
CSX shares have increased 9% since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.5%. In the final minutes of trading on Wednesday, shares hit $78.90, a climb of 12% 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 CSX at https://www.zacks.com/ap/CSX
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News