Monsanto grows 1Q profits 8.6%, exceeding forecasts

Agriculture giant Monsanto beat analysts' projections Monday when it reported earnings of $368 million, or 69 cents a share, last quarter, compared with a profit of $339 million, or 63 cents a share, a year earlier.

Fox News reports the St. Louis-based company increased revenue 6.9 percent to $3.14 billion during its first quarter.

Monsanto said its corn seed and traits revenue fell 7.5 percent to $1.05 billion last quarter, while sales of soybean seeds jumped almost 16 percent to $267 million.

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