UPDATE: Union Pacific Q2 Profit Surges 10%

Union Pacific

reported a 10% rise in its second-quarter earnings. Union Pacific's quarterly profit surged to $1.11 billion, or $2.37 per share, from $1 billion, or $2.10 per share, in the year-ago period. Its revenue rose 4.8% to $5.47 billion. However, analysts were expecting earnings of $2.35 per share on revenue of $5.5 billion. Its operating margin widened to 34.3% from 33%. Union Pacific shares closed at $159.68 yesterday.