Leading U.S. railroad operator Norfolk Southern Corp. NSC reported second-quarter 2017 earnings of $1.71 per share that beat the Zacks Consensus Estimate of $1.64.The bottom line also rallied 25.74% year over year, aided by a rise in income from railway operations and a record operating ratio. Railway operating revenues in second-quarter 2017 came in at $2,637 million, marginally below the Zacks Consensus Estimate of $2,641.7 million. Revenue however improved 7.46% on a year-over-year basis. Volume growth drove the top line.Income from railway operations climbed 15% year over year to $888 million. Operating expenses increased 4% year over year to $1,749 million. Operating ratio (defined as operating expenses as a percentage of revenues) in the reported quarter was 66.3% compared with 68.6% a year ago. The company raised its share repurchase guidance by 25% to $1 billion for 2017.The earnings report however failed to find favor with investors. Consequently, the stock lost value in early trading.SegmentsOn a year-over-year basis, coal revenues surged 31.8% to $447 million.Merchandise revenues inched up 1.3% year over year to $1,597 million.Intermodal revenues rose 10.2% year over year to $593 million.Norfolk Southern Corporation Price, Consensus and EPS Surprise Norfolk Souther Corporation Price, Consensus and EPS Surprise | Norfolk Souther Corporation QuoteLiquidityNorfolk Southern exited the second quarter with cash and cash equivalents of $642 million compared with $956 million at the end of 2016. The company had long-term debt of $9,273 million, compared with $9,562 million at the end of 2016. Upcoming ReleasesInvestors interested in the broader transportation space are keenly waiting for second-quarter earnings reports from key players like American Airlines Group, Inc. AAL, Copa Holdings, S.A. CPA and Air Lease Corp. AL. While American Airlines is scheduled to report second-quarter results on Jul 28, Copa Holdings and Air Lease will report the same on Aug 9 and Aug 3, respectively.The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaries," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Copa Holdings, S.A. (CPA): Free Stock Analysis Report American Airlines Group, Inc. (AAL): Free Stock Analysis Report Air Lease Corporation (AL): Free Stock Analysis Report Norfolk Souther Corporation (NSC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research