Business
9:17 am
Thu October 3, 2013

Agribusiness giant Monsanto takes loss in 4th quarter

 

Monsanto
Credit stevecadman / Flickr

Monsanto says its financial loss widened in the agribusiness giant's fiscal fourth quarter as sales of biotech seeds dropped.

The St. Louis company recorded a loss of $249 million, or 47 cents per share, for the quarter ended August 31st. That compares with a loss of $264 million, or 42 cents per share, in the 2012 period. Revenue climbed 5 percent to $2.2 billion.

Analysts expected a loss of 43 cents per share, on sales of $2.26 billion.

Separately, Monsanto said it plans to purchase farming software and data from The Climate Corporation for $930 million in cash. The company's technology uses weather forecasting and data analysis to help farmers with planting and harvests.