Monsanto first-quarter profit grows 8.6 per cent on sales of new insect-repelling soybeans - InfoNews

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Monsanto first-quarter profit grows 8.6 per cent on sales of new insect-repelling soybeans

January 08, 2014 - 8:26 AM

WASHINGTON - Monsanto's earnings rose 8.6 per cent in the agriculture products company's first fiscal quarter on higher sales of its insect-repelling soybean seeds.

The St. Louis company says it earned $368 million, or 69 cents per share in the three months ended Nov. 30. That compares to earnings of $339 million, or 63 cents per share, in last year's quarter. Revenue climbed 7 per cent to $3.1 billion.

Analysts polled by FactSet expected earnings of 64 cents per share on sales of $3.06 billion in revenue for the quarter.

Monsanto has dominated the bioengineered-seed business for more than a decade. Recently the company has focused its business on emerging markets like Argentina, Brazil and parts of Asia.

News from © The Associated Press, 2014
The Associated Press

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