January 24, 2018 / 1:15 PM / 4 months ago

Norfolk Southern quarterly profit boosted by U.S. tax law

Jan 24 (Reuters) - Norfolk Southern Corp, the fourth-largest U.S. railroad by revenue, reported a rise in quarterly net profit on Wednesday, boosted by the benefits of the new U.S. tax law and growth in commodity volumes.

The Norfolk, Virginia-based carrier posted fourth-quarter net income of $3.97 billion, or $13.79 per share, up from $416 million, or $1.42 per share a year earlier.

After adjustments for one-time items, the railroad earned $1.69 per share, versus the $1.57 analysts expected.

Reporting by Eric M. Johnson in Seattle; Editing by Steve Orlofsky

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