Union Pacific’s 1Q Earnings Improve

Net income grew to to $516 million, or $1.01 a share, from $362 million, or 72 cents, a year ago, the freight rail line said in statement.

Business volumes, measured by total revenue carloads, increased 13% over last year, UP said. Five of the six business groups reported growth in the quarter.

Operating revenue rose 16% to $4 billion, from $3.4 billion a year ago, UP said.