MOLINE, Ill. (AP) — MOLINE, Ill. (AP) — Deere & Co. (DE) on Friday reported fiscal first-quarter net income of $1.96 billion.
On a per-share basis, the Moline, Illinois-based company said it had net income of $6.55.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $5.53 per share.
The agricultural equipment manufacturer posted revenue of $12.65 billion in the period. Its adjusted revenue was $11.4 billion, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $11.31 billion.
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