Global growth drives Monsanto's 2Q higher

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Associated Press

Posted on April 2, 2014 at 7:01 AM

Updated Wednesday, Apr 2 at 7:02 AM

ST. LOUIS (AP) — Monsanto's second-quarter earnings jumped 13 percent on strength from its core seeds and traits business.

The agriculture products company topped Wall Street expectations for both profit and revenue, sending shares higher before the opening bell Wednesday.

Monsanto earned $1.67 billion, or $3.15 per share, 7 cents better than analysts had projected. A year ago, the company earned $1.48 billion, or $2.73 per share.

Revenue climbed 7 percent to $5.83 billion.

The expansion of the company's global corn and soybean businesses drove sales throughout the most recent quarter.

Monsanto Co. has dominated the bioengineered-seed business for years and recently began expanding its footprint in emerging markets like Argentina, Brazil and parts of Asia.

The St. Louis company also reaffirmed its 2014 earnings forecast Wednesday.

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