UPDATE: Archer Daniels Midland Reports Q1 Earnings of $578 million

Archer Daniels Midland Co ADM released its results for the first quarter on Tuesday. The company reported its FQ1 earnings at $578 million, or $0.86 per share, up from $421 million, or $0.65 per share, in the year-earlier period. The company's sales surged to $20.08 billion from $15.15 billion. However, analysts were expecting earnings of $0.86 per share on sales of $16.89 billion. ADM shares fell 0.05% to close at $37.00 yesterday. Read more from Benzinga's Company news.