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John Deere reports net income of more than $1.7 billion for the third quarter
Deere & Company has reported a net income of more than $1.7 billion for the third quarter of this year, this is a decline from 2023, but better than expectations.
Worldwide net sales decreased 17% to more than $13 billion and third-quarter sales dropped 11% to just over $40.5 billion through the first three quarters of its fiscal year.
John Deere says the loss is attributed to weaker market conditions and reducing costs to align with production and customer needs.
John Deere’s stocks rose Thursday and early Friday after the company reported better than expected earnings for the fiscal third quarter.
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