UPDATE: Dow Chemical Q3 Profit Increases 17%

Dow Chemical Co

reported a 17% rise in its third-quarter profit. Dow Chemical's quarterly profit surged to $679 million, from $582 million, in the year-earlier period. On a per-share basis, its earnings climbed to $0.49 from $0.42. Excluding one-time items, it earned $0.50 per share. Its net sales rose 0.7% to $13.73 billion. However, analysts were projecting earnings of $0.54 per share on sales of $14 billion. Dow Chemical shares closed at $41.04 yesterday.