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Canadian Pacific Railway's increased profit falls short of estimates

from Toronto Star

Canadian Pacific Railway reported a third-quarter profit of $347 million, topping its result a year ago, but falling short of investors' expectations. The profit amounted to $2.34 per diluted share for the quarter ended Sept. 30 compared with a profit of $323 million or $2.04 per diluted share in the same period last year when it had more shares outstanding. On an adjusted basis, CP Rail said it earned $2.73 per diluted share for the quarter, up from $2.69 a year ago. more

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