Why Deere Shares Are Soaring Today

Shares of Deere & Company (NYSE: DE) jumped more than 10% on Friday morning after the agriculture and industrial equipment manufacturer reported better-than-expected quarterly results.

Before markets opened today, Deere said it earned $3.87 per share in its fiscal first quarter on revenue of $9.11 billion, including equipment-operations net sales of $8 billion, easily surpassing analyst expectations for $2.16 per share in earnings on revenue of $7.21 billion. The company's total net income was $1.224 billion, more than double the $517 million reported during the same quarter a year prior.

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Source Fool.com