Norfolk Southern tops 4Q profit forecasts

FILE - In this Aprill 22, 2008 file photo, a Norfolk Southern engine is seen parked outside a railway office in Hopewell, Va. Norfolk Southern Corp. releases quarterly financial results after the market close Wednesday, Jan. 27, 2010. (AP Photo/Steve Helber, file)

NORFOLK, Va. (AP) — Norfolk Southern Corp. (NSC) on Wednesday reported fourth-quarter net income of $416 million.

On a per-share basis, the Norfolk, Virginia-based company said it had profit of $1.42.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.

The railroad posted revenue of $2.49 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $2.5 billion.

For the year, the company reported profit of $1.67 billion, or $5.62 per share. Revenue was reported as $9.89 billion.

Norfolk Southern shares have risen nearly 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 2 percent. The stock has increased 72 percent in the last 12 months.