Deere & Company Fiscal Q3 Results Top Estimates

Deere & Company, a provider of heavy equipment, reported Friday a fiscal Q3 net profit of $1.97 per share, up from $1.55 per share in the prior year period and higher than the $1.95 per share average estimate provided by Capital IQ. Revenues for the quarter ended July 30 were $7.81 billion, up from $6.72 billion reported for the same period last year and higher than the $7.02 billion estimate.

For fiscal 2017, net sales and revenues are projected to increase about 11% with net income attributable to Deere of about $2.08 billion. Analysts are expecting FY net income of $2.05 billion.

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