ADM profit falls, but revenue rises 78 pct
CHICAGO |
CHICAGO Aug 5 (Reuters) - Archer Daniels Midland Co (ADM.N), one of the largest U.S. food processors and ethanol producers, said on Tuesday that quarterly profit fell 61 percent mainly due to one-time gains a year earlier.
Earnings fell to $372 million, or 58 cents per share, in the fiscal fourth quarter ended on June 30 from $954.8 million, or $1.47 cents per share, a year earlier.
Revenue rose 78 percent to $21.78 billion from $12.21 billion, compared with Wall Street forecasts of $15.36 billion. (Reporting by Lisa Shumaker; Editing by Derek Caney)
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