Deere reports a 42% jump in year-over-year profit

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A John Deere 8600 tractor is displayed on opening day of the World Ag Expo on February 10, 2015 in Tulare, Calif.

U.S. tractor maker Deere’s profit rose about 42 percent year-over-year in the third quarter, helped by replacement demand for large agricultural equipment.

The Moline, Illinois-based company said on Friday net income attributable to the company rose to $910.3 million, or $2.78 per share, in the quarter ended July 29, from $641.8 million or $1.97 per share a year earlier.

Total equipment sales rose 36 percent from a year ago to $9.3 billion.