UPDATE: DuPont Posts Drop In Q1 Net Profit

DuPont Co

reported a 57% decline in its first-quarter earnings. DuPont's quarterly profit slipped to $1.44 billion, or $1.54 per share, compared to a year-earlier profit of $3.35 billion, or $3.58 per share. Excluding special items, its adjusted earnings climbed to $1.58 versus $1.56 per share. Its revenue fell 2.7% to $10.1 billion. However, analysts were estimating a profit of $1.59 per share on revenue of $10.45 billion. DuPont affirmed its earnings forecast for 2014. DuPont shares gained 1.23% to close at $67.72 yesterday.