UPDATE: Union Pacific Q1 Profit Rises 11%

Union Pacific UNP reported an 11% rise in its first-quarter earnings. Union Pacific's quarterly profit surged to $957 million, or $2.03 per share, from $863 million, or $1.79 per share, in the year-ago period. Its revenue rose 3.5% to $5.29 billion. However, analysts were expecting earnings of $1.95 per share on revenue of $5.21 billion. Union Pacific shares gained 3.17% to $141.28 at 9:55 a.m.