MOLINE, Ill. (AP) — Deere & Co. (DE) on Wednesday reported fiscal fourth-quarter net income of $757 million.
On a per-share basis, the Moline, Illinois-based company said it had profit of $2.39.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.
The agricultural equipment manufacturer posted revenue of $9.73 billion in the period. Its adjusted revenue was $8.66 billion, which also topped Street forecasts. Four analysts surveyed by Zacks expected $7.3 billion.
For the year, the company reported profit of $2.75 billion, or $8.69 per share. Revenue was reported as $35.54 billion.
Deere shares have climbed 51% since the beginning of the year, while the Standard & Poor’s 500 index has increased 13%. The stock has risen 48% in the last 12 months.