UPDATE: Monsanto Posts Upbeat Q1 Profit

Monsanto Co

reported a rise in its fiscal first-quarter profit. Monsanto's quarterly profit surged to $368 million, or $0.69 per share, versus a year-ago profit of $339 million, or $0.63 per share. Its net sales jumped to $3.14 billion from $2.94 billion. However, analysts were projecting earnings of $0.64 per share on sales of $3.07 billion. Monsanto reaffirmed full-year 2014 earnings of $5.02 to $5.22 per share. Monsanto shares closed at $113.24 yesterday.