LONDON (ShareCast) - (ShareCast News) - Railroad firm Union Pacific Corporation reported its fourth quarter results on Thursday before markets opened, beating analysts' estimates and sending its share price up 5% in early trading.
Union said net income for the final quarter of 2016 was $1.14bn, or $1.39 per share, compared with $1.12bn, or $1.31 per share a year previously.

Analysts had expected earnings per share of $1.33, and the earnings beat sent the stock higher.

Representatives for the company said during a conference call that it was optimistic about 2017 being a positive one for the company.

"Looking to 2017, we are fairly optimistic about some of the macro-economic indicators that drive our core business," Chief Executive Lance Fritz said in a statement.

"Higher energy prices, favorable agricultural markets and improving business and consumer confidence all support a return to positive volume growth this year."

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