(Boursier.com) — Deere , the American agricultural machinery giant, lost 5% before the stock market on Wall Street, even though the group has just unveiled profits and revenues for its second fiscal quarter that exceeded expectations. The group cites strong demand, offsetting supply chain issues. Quarterly net profit was $2.1 billion for the quarter ended, $6.81 per share, compared to $1.79 billion and $5.68 per share for the comparable period last year. The FactSet consensus was $6.69 per share. Quarterly revenue rose 10.9% to $13.37 billion. The annual profit guidance has finally been raised to between 7 and 7.4 billion dollars.
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