November 22, 2017 / 11:17 AM / 23 days ago

Deere profit jumps 79 percent in fourth quarter

Nov 22 (Reuters) - U.S. tractor maker Deere & Co’s profit rose 79 percent year-over-year in the fourth quarter, as it sold more farm machinery in overseas markets, particularly in South America.

Moline, Illinois-based Deere said on Wednesday net income attributable to the company rose to $510.3 million or $1.57 per share in the quarter ended Oct. 29, from $285.3 million or 90 cents per share, a year earlier.

Total equipment sales rose 25.5 percent to $7.09 billion. (Reporting by Rajesh Kumar Singh and Sanjana Shivdas; editing by Sai Sachin Ravikumar)

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