Monsanto first-quarter earnings exceed estimates

MONSANTO, the world’s largest seed company, posted first-quarter earnings that exceeded estimates, as Latin American farmers grew more genetically modified corn, and said US orders are ahead of last year.

Net income climbed to $126 million (€98.4m), or 23 cents a share, in the three months through November, from $9m, or 2 cents, a year earlier, Monsanto said yesterday.

Monsanto said last month that earnings would be 15 cents to 20 cents a share, and the average of 10 estimates compiled by Bloomberg was for profit of 18 cents.