CN’s Profit Jumps 21% in 1Q

Canadian National Railway Co. said its first-quarter net income rose 21% to C$511 million, or C$1.08 per share, from C$424 million or 90 cents per share, a year earlier.

Revenue increased 6% to C$1.97 billion, the Montreal-based railroad said late Monday.

The railroad revised its full-year 2010 profit forecasts, the Associated Press reported. It now expects double-digit growth in its earnings per share for the full year.