OMAHA, Neb. (AP) — Union Pacific’s profit and revenue slumped by double digits in the third quarter.

Still, the volume of shipments the railroad handled rebounded from the previous quarter as the economy emerged from the worst of the virus-related shutdowns earlier this year. The company's quarterly net income fell 12% to $1.36 billion, or $2.01 per share. Revenue fell 11%.

Volume fell 4% compared with last year, but that was a significant improvement over the second quarter when volume plunged 20% as factories and businesses shut down with COVID-19 infections spreading in the U.S.