Union Pacific quarterly profit drops 1.6%

(Reuters) – Union Pacific Corp posted a 1.6% decline in quarterly earnings on Thursday as the U.S. railroad was hurt by lower freight revenues.

The company’s net income fell to $ 1.38 billion, or $ 2.05 per share, in the fourth quarter ended December 31. from $ 1.40 billion, or $ 2.02 per share, one year earlier.

Total operating revenues fell to $ 5.14 billion from $ 5.21 billion.

Reportage by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel