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Deere & Company (DE) earned $1.12 per share in the first fiscal quarter, beating analysts' estimate of $0.82. Revenue in the first fiscal quarter decreased 19.3% year-over-year to $5.61 billion, but beating analysts' estimate of $5.50 billion.
The company announced its forecasts for the second fiscal quarter of 2015. Revenue is expected to be $7.5 billion in the second fiscal quarter of 2015 (analysts' estimate: $7.96 billion).
The company expects revenue of $27.36 billion (-17% y/y) (the previous estimate: -15% y/y) in the full fiscal year 2015 (analysts' estimate: $28.4 billion).
The company downgraded its net income forecast to $1.8 billion from the previous estimate of $1.9 billion.
Deere & Company (DE) shares fell to $91.30 (-0.45%) prior to the opening bell.
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