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Deere quarterly profit rises 15%

Deere & Co (DE-N), the world's leading maker of farm equipment, reported a 15-percent increase in quarterly profit Wednesday, helped by international demand for large machines and a weaker U.S. dollar.

Net earnings were $712 million US, or $1.69 per share, in the fiscal third quarter ended July 31, up from $617 million, or $1.44 per share, a year ago.

Sales rose 22 percent to $8.37 billion. Equipment sales were up 24 percent to $7.72 billion, beating Wall Street forecasts.

Moline, Illinois-based Deere said it expects full-year net income of $2.7 billion. In May, it estimated $2.65 billion. CTV Two CTV News CTV News Channel BNN - Business News Network CP24