FARM BUSINESS NEWS
Deere Beats Expectations
Wed Aug 14, 2013 04:08 PM CDT

MOLINE, Ill. (AP) -- Deere & Co.'s third-quarter net income rose 27%, driven by booming agricultural activity in North and South America. The company easily beat most expectations, and shares are rising before the opening bell.

The farm and construction equipment manufacturer earned $997 million, or $2.56 per share, well ahead of the $2.17 per share that Wall Street was looking for.

Deere's shares added $1.09 to $85 before the market open.

Revenue climbed 4% to $10.01 billion, the company said Wednesday, also topping most expectations of analysts polled by FactSet.

The company last year booked earnings of $788 million, ...

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