US agribusiness and biotech firm Monsanto has posted a rise in quarterly earnings that beat analysts’ forecasts.
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St Louis-based Monsanto reported net income of US$295m, or $1.12 per share, for the second quarter, compared to $147m, or 56 cents a share, a year earlier. Analysts had expected, on average, earnings of $1.02 per share.
Monsanto’s net sales rose 8% to $1.68bn.
Monsanto has struggled with tough farming conditions and weaker sales in the US and Latin America. The company is now focusing, however, on building profits from its biotech seeds and other business, reported Reuters.
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