Deere reported Q3FY16 earnings of $1.55 per share (versus $1.53 in Q3FY15), beating analysts’ consensus estimate of $0.94.
The company’s quarterly revenues amounted to $5.861 bln (-14.3% y/y), missing analysts’ consensus estimate of $6.027 bln.
Deere also increased its FY16 net income forecast to $1.35 bln from $1.2 bln, but lowered FY16 sales projection to down 10% from down 9%.
DE rose to $79.90 (+3.85%) in pre-market trading.
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