ADM profit meets Street view, revenue tops outlook

Reuters

CHICAGO (Reuters) - U.S. agricultural processor Archer Daniels Midland Co <ADM.N> reported higher third quarter earnings on Tuesday on strong results from its corn and oilseed processing segments.

For the fiscal third-quarter ended March 31, ADM reported net earnings of $578 million, or 86 cents per share, matching the average analyst estimate, according to Thomson Reuters I/B/E/S.

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In the same quarter a year ago, ADM earned a net $421 million, or 65 cents per share.

Quarterly revenue rose to $20.1 billion, topping analyst expectations for $17.7 billion.

ADM, based in Decatur, Illinois, is one of the largest processors of corn and soybeans in the world and among the top ethanol producers in the United States.

Its shares are up more than 23 percent this year.

(Reporting by Karl Plume; Editing by Derek Caney)