January 16, 2018 / 9:14 PM / 3 months ago

Railroad operator CSX posts 6 pct drop in quarterly revenue

Jan 16 (Reuters) - CSX Corp, the third-largest U.S. railroad operator, reported a 6 percent fall in fourth-quarter revenue from the year earlier quarter, when it had an extra fiscal week.

The Jacksonville, Florida-based railroad said revenue fell to $2.86 billion in the quarter ended Dec. 31, from 3.04 billion a year earlier.

Net income jumped to $4.14 billion, or $4.62 per share, from $458 million, or 49 cents per share, boosted by benefits from the recently enacted U.S. tax overhaul. (Reporting by Eric M. Johnson in Seattle and Arunima Banerjee in Bengaluru; Editing by Savio D’Souza)

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