Monsanto Profit Tops Estimates on Brazil as U.S. Orders Gain
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Monsanto Co., the world’s largest seed company, posted first-quarter earnings that exceeded estimates as Latin American farmers grew more genetically modified corn and said U.S. orders are ahead of last year.
Net income climbed to $126 million, or 23 cents a share, in the three months through November, from $9 million, or 2 cents, a year earlier, St. Louis-based Monsanto said today in a statement. Monsanto said last month that earnings would be 15 cents to 20 cents a share, and the average of 10 estimates compiled by Bloomberg was for profit of 18 cents.