CP Rail tops expectations with stronger profit, revenue
TORONTO, July 17
TORONTO, July 17 (Reuters) - Canadian Pacific Railway Ltd reported on Thursday higher quarterly results that were slightly ahead of expectations, as the rail operator worked to recover from massive backlogs and the challenges of an unusually harsh winter.
Canada's second-largest rail operator reported a net income of C$371 million, or C$2.11 a share, stronger than the C$252 million, or C$1.43 a share it earned during the same quarter one year earlier.
Revenue climbed 12 percent to C$1.68 billion. (Reporting by Solarina Ho, Editing by Franklin Paul)