Deere posts stronger-than-expected quarterly profit
Feb 12 (Reuters) - Deere & Co posted a stronger-than-expected quarterly profit on Wednesday as the company's efforts to control costs offset moderating demand from farmers for its tractors, harvesters and other agricultural machinery.
The world's largest maker of farm equipment said it had earned $681.1 million, or $1.81 a share, in the first quarter ended Jan. 31, up from $649.7 million, or $1.65 a share, a year earlier.
Analysts on average expected the Moline, Illinois-based company to report a profit of $1.52 a share, according to Thomson Reuters estimates.
Total sales and revenue from financial services rose 3 percent to $7.65 billion.
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Investigators focus on foul play behind missing plane: sources |
- Kremlin website hit by 'powerful' cyber attack
- West prepares sanctions as Russia presses on with Crimea takeover |
- UPDATE 1-Rolls-Royce concurs with Malaysia on missing jet's engine data