Norfolk Southern Reports Record Earnings

Norfolk Southern Corp. said its fourth-quarter profit rose 19%, on higher traffic and rates.

Net income rose to $480 million, or $1.42 per share, from $402 million, or $1.09, a year ago.

Revenue rose 17.2% to $2.8 billion, the Eastern freight railroad said.

Full-year net income rose to an all-time record $1.9 billion, or $5.45 per share, from $1.5 billion or $4, in 2010.

Railway operating revenue rose 17% to $11.2 billion.