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Monsanto Beats 2Q Profit Forecasts

Monsanto Co. (MON) on Wednesday reported fiscal second-quarter net income of $1.37 billion.

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ST. LOUIS (AP) _ Monsanto Co. (MON) on Wednesday reported fiscal second-quarter net income of $1.37 billion.

On a per-share basis, the St. Louis-based company said it had profit of $3.09. Earnings, adjusted for one-time gains and costs, came to $3.19 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.76 per share.

The agriculture products company posted revenue of $5.07 billion in the period.

Monsanto expects full-year earnings in the range of $4.50 to $4.90 per share.

Monsanto shares have risen 9 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 5 percent. The stock has risen 32 percent in the last 12 months.

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