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Union Pacific tops 1Q profit forecasts

OMAHA, Neb. (AP) _ Union Pacific Corp. (UNP) on Thursday reported first-quarter earnings of $979 million.

The Omaha, Nebraska-based company said it had profit of $1.16 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The railroad posted revenue of $4.83 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $4.9 billion.

Union Pacific shares have increased 7 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 3 per cent. The stock has declined 24 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 UNP at http://www.zacks.com/ap/UNP

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Keywords: Union Pacific, Earnings Report, Priority Earnings