Archer Daniels Midland Co. says its fiscal second-quarter profit slipped 2 percent as its revenue was depressed by lower prices for agricultural products.
The company, based in Decatur, Illinois, says it earned $567 million, or 88 cents per share, in the three months ended Dec. 31. That is down from $578 million, or 90 cents per share, a year ago.
Analysts surveyed by Thomson Reuters expected 72 cents per share, but typically exclude one-time items from the estimates.
ADM says revenue fell 5 percent to $15.9 billion. Analysts expected higher revenue of $16.5 billion.
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