Monsanto Shares Pop On Strong Quarterly Profit Growth
Posted on January 08, 2013 at 12:02 PM EST
Shares of Monsanto (MON), parent of Roundup brand crop protection products, climbed early Tuesday after it crushed quarterly estimates. The company posted fiscal first-quarter profit of 62 cents a share, nearly triple the 23 cents a share of a year earlier, and well ahead of the 37 cents analysts expected. Sales climbed 21% to $2.94 billion, also better than expected. Monsanto, the world's largest seed company, cited strong sales in Latin America