UPDATE: Deere Posts Rise In Q2 Profit, Lifts 2012 Forecast

Deere & Co

reported a rise in its fiscal second-quarter earnings and lifted its full-year forecast. Deere's quarterly earnings climbed to $1.06 billion, or $2.61 per share, from 904.3 million, or $2.12 per share, in the year-ago period. Its revenue climbed to $10 billion, from $8.9 billion. Analysts were expecting earnings of $2.53 per share on revenue of $9.68 billion. Deere expects 2012 net income of around $3.35 billion, versus its earlier forecast of $3.275 billion. Deere shares closed at $76.62 yesterday.