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CSX stock falls after earnings miss

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CSX Corp. shares dropped in the extended session Tuesday after the railroad operator's quarterly results fell short of Wall Street estimates. CSX shares fell...

CSX Corp. CSX, +1.34% shares dropped in the extended session Tuesday after the railroad operator's quarterly results fell short of Wall Street estimates. CSX shares fell 5.5% after hours, following a 1.3% rise to close the regular session at $79.55.

The company reported second-quarter net income of $870 million, or $1.08 a share, compared with $877 million, or $1.01 a share, in the year-ago period. Revenue declined to $3.06 billion from $3.1 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.11 a share on revenue of $3.14 billion.

 

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