UPDATE: Deere Reports Upbeat FQ2 Earnings

Deere & Co DE reported upbeat earnings for its fiscal second-quarter. The company reported its quarterly net income at $904.3 million, or $2.12 per share, versus $547.5 million, or $1.28 per share, in the year-earlier period. Its sales surged to $8.33 billion from $6.55 billion. However, analysts were expecting earnings of $2.06 per share on sales of $8.12 billion. The company projects Q3 sales growth of 20% on year over year basis. DE shares gained 1.16% to $87.97 in pre-market trading. Read more from Benzinga's Company news.