Deere: largely beats consensus in Q2.

(CercleFinance.com) - John Deere, a provider of agricultural and construction equipment, reported net income that was up 62% to 802 million dollars in its second quarter of 2016-17, i.
e. 2.49 dollars per share. Meanwhile, the consensus was expecting around 1.60 dollar.

Revenues increased 5% to 8.3 billion dollars, including equipment sales that were up 2% at 7.3 billion dollars, a 5% decline in North America, which was offset by international sales that were up 14%.

The group expects full-year net profit of about 2 billion dollars on equipment sales that are up about 9%, compared with previous forecasts of 1.5 billion dollars and 4% respectively.


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