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Canadian National posts 4Q profit, results top Wall Street forecasts

MONTREAL – MONTREAL (AP) _ Canadian National Railway Co. (CNI) on Tuesday reported fourth-quarter profit of $705.1 million.

On a per-share basis, the Montreal-based company said it had net income of 88 cents.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The railroad posted revenue of $2.37 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $2.34 billion.

For the year, the company reported profit of $2.77 billion, or $3.44 per share. Revenue was reported as $9.88 billion.

CN shares have decreased 9.5 per cent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $50.57, a decrease of 26 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNI at http://www.zacks.com/ap/CNI

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Keywords: Canadian National, Earnings Report