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NORFOLK, Va. (AP) _ Norfolk Southern Corp. (NSC) on Wednesday reported first-quarter profit of $381 million.
On a per-share basis, the Norfolk, Virginia-based company said it had net income of $1.47. Earnings, adjusted for non-recurring costs, came to $2.58 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.
The railroad posted revenue of $2.63 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $2.56 billion.
Norfolk Southern shares have dropped 12% since the beginning of the year, while the Standard & Poor’s 500 index has fallen 11%. The stock has declined 16% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NSC at https://www.zacks.com/ap/NSC
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