UPDATE: Corn Products Reports Upbeat Q1 Results, Lifts Earnings Forecast

Corn Products International Inc CPO reported upbeat Q1 results and raised its earnings guidance for the year. Corn Products reported its Q1 earnings at $1.97 per share, up from $0.57 per share, in the year- ago period. The company's earnings, excluding items, came in at $1.28 per share. The company's net sales increased 56% to $1.46 billion. The company's operating income surged to $227 million from $72 million. However, analysts were expecting earnings of $0.89 per share on revenue of $1.41 billion. The company lifted its full-year earnings forecast by $1.25 per share to $4.85-$5.15 per share and projects net sales to exceed $6 billion. However, analysts are projecting full-year earnings of $4.10 per share on revenue of $6.05 billion. CPO shares gained 3.81% to $57.20 in pre-market trading. Read more from Benzinga's Company news.