Deere And Co Q1 Profit Drops, but beats estimates

(RTTNews) - Deere And Co (DE) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $1.75 billion, or $6.23 per share. This compares with $1.96 billion, or $6.55 per share, in last year's first quarter.

Analysts on average had expected the company to earn $5.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.6% to $12.19 billion from $12.65 billion last year.

Deere And Co earnings at a glance (GAAP) :

-Earnings (Q1): $1.75 Bln. vs. $1.96 Bln. last year. -EPS (Q1): $6.23 vs. $6.55 last year. -Analyst Estimates: $5.21 -Revenue (Q1): $12.19 Bln vs. $12.65 Bln last year.