UPDATE: Dow Chemical Posts Upbeat Q1 Earnings

Dow Chemical Co

reported a surge in its first-quarter earnings. Dow Chemical's quarterly profit rose to $1.05 billion, or $0.79 per share, versus a year-ago profit of $635 million, or $0.46 per share. Its revenue rose 0.5% $14.46 billion. However, analysts were estimating a profit of $0.71 per share on revenue of $14.72 billion. Dow Chemical shares closed at $48.94 yesterday.