UPDATE: Deere FQ3 Net Profit Up 11%

Deere & Co

reported an 11% rise in its fiscal third-quarter profit. Deere's quarterly net income surged to $788 million, or $1.98 per share, versus $712.3 million, or $1.69 per share, in the year-earlier period. Its total sales surged 15% to $9.59 billion. Deere shares fell 5.40% to $75.80 in pre-market trading.