August 17, 2018 / 10:40 AM / a month ago

Deere reports 42 pct y/y jump in profits

CHICAGO, Aug 17 (Reuters) - U.S. tractor maker Deere & Co.'s profit rose about 42 percent year-over-year in the third quarter, helped by replacement demand for large agricultural equipment.

The Moline, Illinois-based company said on Friday net income attributable to the company rose to $910.3 million, or $2.78 per share, in the quarter ended July 29, from $641.8 million or $1.97 per share a year earlier.

Total equipment sales rose 36 percent from a year ago to $9.3 billion. (Reporting by Rajesh Kumar Singh; editing by Andrew Roche)

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