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CHAMPAIGN, Ill. (AP) - Shares of Archer Daniels Midland Co. fell nearly 6 percent Tuesday after the nation's largest ethanol producer reported a profit increase for the third fiscal quarter that fell short of Wall Street expectations.
Net income for the three months ending March 31 rose to $362.9 million, or 56 cents per share, up from $347.8 million, or 53 cents per share, during the same period last year.
Revenue at the Decatur, Ill.-based company, also one of the world's largest food processors, rose 25 percent to $11.38 billion from $9.12 billion a year earlier.
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