CALGARY, Alberta (AP) _ Canadian Pacific Railway Ltd. (CP) on Wednesday reported second-quarter net income of $458.1 million.
On a per-share basis, the Calgary, Alberta-based company said it had net income of $3.36. Earnings, adjusted for non-recurring gains, were $2.94 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.75 per share.
The railroad posted revenue of $1.29 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $1.3 billion.
Canadian Pacific shares have risen slightly more than 6% since the beginning of the year. The stock has climbed 14% 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 CP at https://www.zacks.com/ap/CP
The Associated Press
