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)

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