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CSX shares rise 4 pct as surprise Q2 results beat expectations

CSX freight lines run through center city Philadelphia
Paul Marotta | Getty Images
CSX freight lines run through center city Philadelphia

Shares of CSX rose more than 4 percent Wednesday afternoon after the company released its second-quarter earnings.

The company reported earnings of 47 cents per share, compared to Wall Street expectations of 44 cents, according to a Thomson Reuters consensus estimate. CSX posted revenue of $2.7 billion for the quarter, slightly above expectations for $2.69 billion.

Originally, the company was expected to release its quarterly results after the market closed.

"CSX continued to drive strong customer service and network efficiency in a challenging market, which is expected to persist throughout this year," Michael Ward, chairman and CEO of CSX, said. "In this environment, the company continues to right-size resources while making strategic investments to transform the company and capitalize on market opportunities to drive long-term value creation."

CSX source: Factset

— CNBC's Anita Balakrishnan contributed to this report.