CP's First Quarter: Revenue, Per-Share Earnings Fail to Meet Expectations

Calgary, AB (Associated Press) — Canadian Pacific Railway Ltd. (CP) on Wednesday (April 17) reported first-quarter net income of $465.8 million.

The Calgary, Alberta-based company said it had net income of 50 cents per share.

The results did not meet Wall Street expectations.

The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The railroad posted revenue of $1.45 billion in the period, which also fell short of Wall Street forecasts.

Six analysts surveyed by Zacks expected $1.54 billion.