Union Pacific Reports Record 2Q Profit

Union Pacific Corp. said Thursday its second-quarter profit rose 10% to an all-time high, despite carloads dipping 1% in in the quarter.

Net income rose to $1.11 billion, or $2.37 per share, from $1 billion, or $2.10, a year ago.

Revenue rose 5% to $5.47 billion, the Western freight railroad said in a statement.

Intermodal freight revenue declined 1% to $993 million and automotive revenue jumped 12% to $534 million.