UPDATE: Deere Q4 Profit Rises 3%
Deere & Co (NYSE: DE) reported a 3% rise in its fourth-quarter profit.
Deere's quarterly profit surged to $687.6 million, or $1.75 per share, versus $669.6 million, or $1.62 per share, in the year-earlier period.
Its sales climbed 14% to $9.79 billion. However, analysts were expecting earnings of $1.88 per share on sales of $8.93 billion.
Deere projects FY13 profit of around $3.2 billion, versus analysts' estimates of $3.26 billion.
Deere shares closed at $85.99 yesterday.
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