Norfolk Southern beats the street

From the AP:

NORFOLK, Va. (AP) _ Norfolk Southern Corp. (NSC) on Thursday reported first-quarter earnings of $387 million.

On a per-share basis, the Norfolk, Virginia-based company said it had profit of $1.29.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The railroad posted revenue of $2.42 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $2.4 billion.

Norfolk Southern shares have decreased slightly more than 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 2 percent. In the final minutes of trading on Thursday, shares hit $82.63, a decline of 19 percent in the last 12 months.

 

NSC shares rose 4.8% in after-hours trading.

 

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