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Deere beats 3Q profit forecasts

FILE - This Sunday, June 8, 2014, file photo shows John Deere farming equipment at a dealership in Petersburg, Ill. Deere & Co. reports earnings, Friday, Aug. 18, 2017. (AP Photo/Seth Perlman, File)

MOLINE, Ill. (AP) _ Deere & Co. (DE) on Friday reported fiscal third-quarter profit of $641.8 million.

The Moline, Illinois-based company said it had profit of $1.97 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.93 per share.

The agricultural equipment manufacturer posted revenue of $7.81 billion in the period. Its adjusted revenue was $6.83 billion, falling short of Street forecasts. Five analysts surveyed by Zacks expected $6.88 billion.

Deere shares have risen 20 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 8.5 percent. The stock has climbed 60 percent 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 DE at https://www.zacks.com/ap/DE

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Keywords: Deere, Earnings Report