Agribusiness company Archer Daniels Midland Co on Tuesday reported higher-than-expected second-quarter earnings, citing strong U.S. exports and demand for ethanol.
Illinois-based ADM reported net earnings of $533 million, or 81 cents per share, up from $223 million, or 34 cents a share, a year earlier.
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Adjusted earnings rose to 77 cents per share from 46 cents. Analysts on average had expected 73 cents, according to Thomson Reuters I/B/E/S.
Revenue was $21.5 billion, down from $22.5 billion a year earlier.
(Reporting by Tom Polansek; Editing by Lisa Von Ahn)