JACKSONVILLE, Fla. (AP) _ CSX Corp. (CSX) on Tuesday reported first-quarter earnings of $695 million.
On a per-share basis, the Jacksonville, Florida-based company said it had net income of 78 cents.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The freight railroad posted revenue of $2.88 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $2.83 billion.
CSX shares have climbed almost 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Tuesday, shares hit $56.62, an increase of 20 percent 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
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