Deere profit slumps 41% as farm equipment demand crashes
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May 22 (Reuters) - Deere & Co reported a 41% fall in quarterly profit on Friday as coronavirus-led lockdowns sapped demand for its tractors, harvesters and other machinery.
Net income attributable to the company fell to $666 million, or $2.11 per share, for the second quarter ended May 3, from $1.14 billion, or $3.52 per share, a year earlier.
Total net sales fell 20% to $8.22 billion. (https://bit.ly/2A3mEn2) (Reporting by Ankit Ajmera and Shreyasee Raj in Bengaluru; Editing by Arun Koyyur)
