Monsanto Beats Expectations

Monsanto reported second-quarter net income of $1.1 billion ($1.97/share), 3% lower than the same year-ago quarter. Sales increased 8%, to $4 billion. Increased revenues from the U.S. corn and soybean seeds and traits business were partly offset by lower sales of Roundup herbicides, Monsanto says. Monsanto reported earnings of $2.16/share, excluding acquisition-related charges, and beat analysts consensus of $2.06/share as reported by Thomson Reuters (New York). Monsanto’s seeds and genomics unit’s gross profits rose 21%, to $1.98 billion, on sales up...

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