UPDATE: Bunge Reports Q2 Profit of $316M

Bunge Ltd BG released its results for the second quarter on Thursday. Bunge's quarterly net income dropped to $316 million, or $2.02 per share, from $1.8 billion, or $11.15 per share, in the year-ago period. Excluding items, Bunge's net profit came in at $1.78 per share. Its sales climbed 32% y/y to $14.49 billion from $10.97 billion. However, analysts were expecting earnings of $1.40 per share on sales of $13.45 billion. BG shares closed at $70.99 yesterday.