Monsanto Loss Wider Than Expected on Lower Sales
Monsanto,the world's biggest seed maker, says its fourth-quarter loss widened to $233 million in the fourth quarter on a decrease in sales.
Monsanto said Wednesday its loss amounted to 43 cents per share in the quarter ended Aug. 31. That's larger than its loss of $172 million, or 31 cents per share, a year earlier.
Monsanto says its revenue fell to $1.88 billion from $2.05 billion the year before.
The loss appeared to be bigger than Wall Street expected.
Analysts had been looking for a loss of 29 cents per share and higher revenue of $1.96 billion. The estimates typically exclude one-time items.
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