John Deere Net Income Rises 7%, Sales Rise 17%
In the quarter ended July 31, Deere’s net income rose 7 percent to $575 million, or $1.32 a diluted share, from the year-ago $537 million, or $1.18 a share. Revenues grew by 17 percent, to $7.74 billion from $6.63 billion.
Per-share results fell short of the $1.36 a share analysts had been anticipating. Perhaps more unsettling, Deere cautioned Wall Street to expect fourth-quarter net of $425 million, significantly below the $491 million that analysts surveyed by Thomson Reuters had expected.
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