Deere Profits Drop 30%
Fri May 22, 2015 07:14 AM CDT

(Dow Jones) -- Deere & Co. said its profit dropped 30% in the latest quarter, blaming weak conditions in the global farm economy that continue to affect the agricultural sector.

The results, however, were much better than feared, and Chief Executive Samuel Allen called the results "noteworthy in light of the weak conditions that continue to affect the global agricultural sector."

Shares rose 1.7% in premarket trading.

The Illinois company, which is the world's sales leader in farm equipment, bumped up its projection for net income for the year ending in October--now expecting $1.9 billion, up from its February prediction ...

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