Deere And Co Profit Drops In Q1, but beats estimates

(RTTNews) - Deere And Co (DE) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $0.90 billion, or $2.92 per share. This compares with $1.22 billion, or $3.87 per share, in last year's first quarter.

Analysts on average had expected the company to earn $2.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.0% to $9.57 billion from $9.11 billion last year.

Deere And Co earnings at a glance (GAAP) :

-Earnings (Q1): $0.90 Bln. vs. $1.22 Bln. last year. -EPS (Q1): $2.92 vs. $3.87 last year. -Analyst Estimates: $2.26 -Revenue (Q1): $9.57 Bln vs. $9.11 Bln last year.