CSX third-quarter profit goes up by 12 percent, beats earlier expectations


AP

OMAHA, Nebraska–CSX Corp. (CSX) on Tuesday said its third-quarter profit grew 12 percent to US$509 million as it hauled more freight amid an improving economy.

The Jacksonville, Florida-based company reported profit per share of 51 cents, beating the 47-cent average estimate of analysts surveyed by Zacks Investment Research.

That’s up from 45 cents per share, or US$455 million, last year.

The freight railroad posted quarterly revenue of US$3.22 billion. Zacks says analysts expected US$3.16 billion.

Shares added 65 cents, or 2 percent, to US$33.26 in extended trading. The stock has risen 13 percent in 2014.