January 3, 2018 / 2:18 PM / 18 days ago

Cargill reports 6 pct drop in quarterly profit

Jan 3 (Reuters) - Global commodities trader Cargill Inc on Wednesday reported a 6 percent drop in its quarterly profit, hurt by higher cattle costs.

The privately held company said net income fell to $924 million in the second quarter ended Nov. 30 from $986 million, a year earlier.

Excluding one-time items, Cargill reported a quarterly net income of $948 million, down from $1.03 billion a year earlier.

Revenue rose 8 percent to $29.2 billion. (Reporting by Karan Nagarkatti in Bengaluru; Editing by Arun Koyyur)

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