CSX Shares Jump on Earnings Beat
October 16 2019 - 05:04PM
Dow Jones News
By Kimberly Chin
Shares of railroad company CSX Corp. (CSX) rose about 2.5% to
$70.75 in after-hours trading Wednesday after the company beat
analysts' earnings estimates.
The company reported third-quarter profit of $1.08 a share,
compared with analysts' estimates of $1.01 a share, per a FactSet
poll. Revenue also matched analysts' estimates.
The company has also managed to drive down expenses through its
cost-cutting efforts. Expenses fell about 8% from a year ago.
Shares have gained 11% in the year so far.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
October 16, 2019 16:49 ET (20:49 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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