Norfolk Southern’s 2Q Income Rises 15%

Eastern freight railroad Norfolk Southern Corp. said its second-quarter profit rose 15%, as higher revenue per shipment offset an overall drop in traffic and record fuel prices.

For the quarter, it earned $453 million, or $1.18 per share, up from $394 million, or 98 cents, a year ago, the railroad said late Tuesday.

Railway operating revenue rose 16% to a record $2.8 billion, while general merchandise revenue rose 10% to $1.5 billion, also a record.

Intermodal revenue rose 11% to a record $532 million, Norfolk Southern said.