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October 21, 2010 9:00 AM, EDT

Union Pacific’s 3Q Earnings Rise 51%

Union Pacific Corp. said Thursday its third-quarter net income rose 51% compared with the same quarter last year, to $778 million, or $1.56 a share.

Revenue rose 20% to $4.41 billion, the railroad said in a statement.

The largest North American rail carrier carried 24% more intermodal shipments and boosted that revenue by 34% to $880 million.

“Strong volume growth, pricing gains and operating efficiency combined to produce another record quarter for our company,” said CEO Jim Young.