Deere sees a 23% jump in revenue, forecasts a strong year (DE)

john deere tractorJohan Viirok/Flickr

  • Deere & Co. reported sales jumped 23% in the first quarter.
  • The company recorded a net loss because of the US tax reform.
  • Deere expects equipment sales to climb 29% in fiscal 2018.

(Reuters) – U.S. farm equipment maker Deere & Co on Friday reported a 23 percent jump in first-quarter revenues as its key markets improved, but recorded a net loss after a charge related to U.S. tax reform legislation.

Revenues rose to $ 6.91 billion in the quarter ending Jan. 28 from $ 5.63 billion last year. Total equipment sales rose 27 percent to $ 5.97 billion.

See the rest of the story at Business Insider

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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