Deere and Co. post billion dollar profits - KWWL - Eastern Iowa Breaking News, Weather, Closings

Deere and Co. post billion dollar profits

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WATERLOO (KWWL) -

Everything is green at John Deere Wednesday, as the company plows ahead to record profits.

Deere and Company is posting its first ever billion dollar quarter. The company shows a 17% spike in profits for its second quarter, posting a profit of $1.6 billion. That's up from $904 million in the same quarter last year.

Deere and Company says it expects equipment sales to increase about 15 percent in 2012 and is raising its full year profit prediction to about $3.35 billion. The previous prediction was $3.28 billion.

Shares are edging higher in pre market trading.

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