UPDATE: Mosaic FQ3 Profit Surges 26%

Mosaic Co MOS reported a 26% rise in its fiscal third-quarter profit. Mosaic's quarterly profit surged to $344.6 million, or $0.81 per share, from $273.3 million, or $0.64 per share, in the year-ago period. Its revenue climbed 2.3% to $2.24 billion. However, analysts were expecting a profit of $0.88 per share on revenue of $2.29 billion. Its gross margin rose to 25.4% from 23.8%. Mosaic shares gained 1.43% to $59.60 in pre-market trading.