Dow Chemical Beats Street 3Q Forecasts

Dow Chemical Co. on Thursday reported third-quarter net income of $719 million.

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MIDLAND, Mich. (AP) — Dow Chemical Co. on Thursday reported third-quarter net income of $719 million.

On a per-share basis, the Midland, Michigan-based company said it had profit of 63 cents. Earnings, adjusted for non-recurring costs, came to 91 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The specialty chemicals maker posted revenue of $12.48 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $12.08 billion.

Dow Chemical shares have increased slightly more than 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 5 percent. The stock has increased almost 7 percent in the last 12 months.

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