CN Rail reports modest rise in third-quarter earnings

Mon Oct 22, 2012 4:12pm EDT
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TORONTO Oct 22 (Reuters) - Canadian National Railway Co , Canada's largest rail operator, reported a modest increase in third-quarter profit on Monday, as revenue grew in all its business segments.

Net income rose to C$664 million ($668.45 million), or C$1.52 a share, from C$659 million, or C$1.46 a share in the same period a year earlier. Excluding certain items, earnings per share were C$1.38.

The company also said it would spend up to C$1.4 billion to purchase up to 18 million shares in a buyback program.