CSX Shares Jump on Earnings Beat

Date : 10/16/2019 @ 9:04PM
Source : Dow Jones News
Stock : CSX Corporation (CSX)
Quote : 71.23  0.21 (0.30%) @ 5:30PM

CSX Shares Jump on Earnings Beat

CSX (NASDAQ:CSX)
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2 Months : From Sep 2019 to Nov 2019

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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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