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MOLINE, Ill. — Deere & Co. posted a 27 percent decline in third-quarter profit Wednesday as the slumping global economy continued to depress sales of its tractors, bulldozers and other products. But the results easily beat Wall Street expectations.
Deere said it earned $420 million, 99 cents per share, during the three months ended July 31. That’s down from $575.2 million, $1.32 per share, during the same period last year. Revenue fell 24 percent to $5.89 billion.
