UPDATE: DuPont Posts Higher Q1 Profit, Lifts Dividend

DuPont Co

reported a surge in its first-quarter earnings. DuPont's quarterly income jumped to $3.35 billion, or $3.58 per share, from $1.49 billion, or $1.58 per share, in the year-ago period. Its operating earnings declined to $1.56 per share from $1.64 per share, while net sales gained 2.2% to $10.41 billion. However, analysts were expecting a profit of $1.52 per share on sales of $10.41 billion. Its gross margin declined to 31.7% from 33%. DuPont also lifted its dividend by 5%. DuPont shares closed at $50.41 yesterday.