PotashCorp Reports Upbeat Q1 Earnings, Shares Rise In Pre-Market Trading

Potash Corporation of Saskatchewan Inc POT reported better-than-expected earnings for the first quarter. The company's net profit came in at $732 million, or $0.84 per share, up from $444 million, or $0.49 per share year-ago. The company's sales increased 28% to $2.20 billion. However, analysts were expecting earnings of $0.78 per share on sales of $1.95 billion. PotashCorp projects Q2 net income of $0.70 to $0.90 per share and full-year earnings of $3.00 to $3.40 per share. POT shares gained 1.77% to $58.20 in pre-market trading. Read more from Benzinga's Company news.