Deere (DE) reported Q2 FY 2017 earnings of $2.14 per share (versus $1.56 in Q2 FY 2016), beating analysts' consensus estimate of $1.69.

The company's quarterly revenues amounted to $7.260 bln (+2.2% y/y), generally in-line with analysts' consensus estimate of $7.267 bln.

The company also issued upside guidance for Q3 and 2017 full year. It forecast Q3 revenues at ~$6.92 bln, up 18% y/y (versus analysts' consensus estimate of $6.24 bln). For FY 2017, it raises revenues expectations to +9% to ~$25.5 bln from +4% (versus analysts' consensus estimate of $24.16 bln) and increased net income projection to $2 bln from $1.5 bln.

DE rose to $120.45 (+6.91%) in pre-market trading.