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ADM: 3Q Earnings Snapshot

·1 min read

CHICAGO (AP) _ Archer Daniels Midland Co. (ADM) on Thursday reported third-quarter net income of $225 million.

On a per-share basis, the Chicago-based company said it had net income of 40 cents. Earnings, adjusted for non-recurring costs, were 89 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The agribusiness giant posted revenue of $15.13 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $16.78 billion.

ADM shares have climbed nearly 8% since the beginning of the year, while the Standard & Poor's 500 index has climbed 2.5%. In the final minutes of trading on Thursday, shares hit $49.92, a rise of 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADM at https://www.zacks.com/ap/ADM