Deere’s 2Q profit up 49 percent

. (AP Photo/Seth Perlman, File)

U.S. tractor maker Deere & Co reported on Friday a 49.4 percent year-over-year increase in the second quarter profit.

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Moline, Illinois-based Deere said net income attributable to the company rose to $1.21 billion or $3.67 per share in the quarter ended April 29, from $808.5 million or $2.50 per share, a year earlier.

Equipment sales rose 34.3 percent to $9.7 billion.

(Reporting by Rajesh Kumar Singh; editing by Jason Neely)

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