MOLINE, Ill. (AP) -- Deere & Co.'s third-quarter net income rose 27 percent, driven by booming agricultural activity in North and South America.
The company easily beat most expectations.
The farm and construction equipment manufacturer earned $997 million, or $2.56 per share, well ahead of the $1.96 per share that Wall Street was looking for.
Revenue climbed 4 percent to $10.01 billion, the company said Wednesday, also topping most expectations.
The company last year booked earnings of $788 million, or $1.98 per share.
For the three months ended July 31, worldwide equipment sales increased 4 percent on higher prices.
Agriculture and turf segment sales rose 8 percent on increased prices and higher shipment volumes.
Editor's note: John Deere manufactures riding lawn mowers at its John Deere Power Products plant off Hal Henard Road in Greeneville.