Monsanto quarterly profit off 5%

But shares rise on $10 billion buyback plan, revised outlook

Posted: June 26, 2014 at 2:40 a.m.

Monsanto Co.’s DeKalb brand seed corn is unloaded at a farm outside Walnut, Ill., in April. The company Wednesday reported a quarterly profit of $858 million, or $1.62 per share.

Monsanto said its earnings fell more than 5 percent in the third fiscal quarter on lower biotech seed sales, but its performance topped Wall Street estimates and the company raised the lower end of its 2014 outlook. It also announced plans to repurchase $10 billion in shares.

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