UPDATE: Deere Reports 15% Rise In Q3 Net Earnings

Deere & Co DE reported a 15% rise in its quarterly profit. Deere reported its FQ3 net earnings at $712 million, or $1.69 per share, up from $617 million, or $1.44 per share, in the year-earlier period. Its sales climbed 22% to $8.37 billion. Deere's equipment sales surged 24 percent to $7.72 billion. However, analysts were expecting earnings of $1.67 per share on revenue of $7.50 billion. Deere projects full-year net income of $2.7 billion, up from its earlier forecast of $2.65 billion. Deere shares gained 1.12% to $76.00 in pre-market trading.