- Infowars - http://www.infowars.com -

Monsanto’s Net Profit Up 77%

Posted By aaron On June 29, 2011 @ 12:13 pm In Old Infowars Posts Style,Science & Technology | Comments Disabled

Jack Kaskey
Bloomberg
June 29, 2011

Monsanto Co. (MON), the world’s largest seed company, raised its full-year profit forecast and posted third-quarter earnings that topped analysts’ estimates on higher sales of Roundup weed killer and genetically modified seeds.

Net income climbed 77 percent to $680 million, or $1.26 a share, in the three months through May 31, from $384 million, or 70 cents, a year earlier, St. Louis-based Monsanto said today in a statement. That beat the $1.10 average estimate of 17 analysts in a Bloomberg survey.

Profit excluding some items will rise to $2.84 to $2.88 a share in the fiscal year through August, compared with a previous prediction of $2.72 to $2.82. The average estimate of 20 analysts surveyed by Bloomberg was $2.82. Monsanto also said the Securities and Exchange Commission is investigating customer incentives for Roundup.

Read Full Article

{openx:49}


Article printed from Infowars: http://www.infowars.com

URL to article: http://www.infowars.com/monsantos-net-profit-up-77/

Copyright © 2013 Infowars. All rights reserved.