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Monsanto Raises Forecast as Profit Tops Estimates on Corn

Monsanto Co., the world’s largest seed company, raised its full-year earnings forecast and posted fiscal second-quarter profit that beat analysts’ estimates as sales of corn seed and Roundup weed killer climbed.

Net income rose 22 percent to $1.48 billion, or $2.74 a share, in the three months through February, from $1.21 billion, or $2.24, a year earlier, St. Louis-based Monsanto said today in a statement. Earnings excluding a discontinued operation were a record $2.73 a share, topping the $2.57 average of 20 estimates compiled by Bloomberg. Revenue rose 15 percent to $5.47 billion.