CN’s Profit Jumps 38% in 2Q

Canadian National Railway Co. said its second-quarter net income rose 21% to C$534 million, or C$1.13 per share, from C$387 million or 82 cents per share, a year earlier.

Revenue increased 118% to C$2.02 billion, the Montreal-based railroad said late Thursday.

Revenue from coal shipments grew by 40%, while shipments of car parts, metals and minerals rose by about a third, the Associate Press reported.

The railroad revised its full-year 2010 profit forecasts, AP reported. It now expects earnings to jump 25% over last year to $3.90 per share.