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CSX Q1 Profit Tops Wall Street View

Railroad operator CSX Corp. (CSX), Tuesday reported a profit for the first quarter that trumped Wall Street estimates, helped by higher revenues. Shares gained 4% in extended trading session.

Jacksonville, Florida-based CSX's first-quarter profit rose to $834 million or $1.02 per share from $695 million or $0.78 per share last year. On average, 23 analysts polled by Thomson Reuters estimated earnings of $0.91 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter grew 5 percent to $3.01 billion from last year's revenues of $2.88 billion. Analysts had a consensus revenue estimate of $3.01 billion for the quarter.

Total volumes were flat at 1.53 million units, while revenue per unit rose 5 percent to $1,968 from $1,877 last year.

CEO James Foote said, "The CSX team of exceptional railroaders continues to execute across all aspects of our business, delivering new alltime high service levels. These results reflect the strength of our Company's operating model and our commitment to providing a best-in-class service offering to our customers."

CSX closed Tuesday's trading at $75.89, up $0.02 or 0.03% on the NYSE. The stock further gained $3.11 or 4.10% in the after-hours trade.

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