Dow Chemical profit spikes, sales drop
Dow Chemical Co
The largest U.S. chemical maker posted net income of $711 million, or 63 cents per share, up from $428 million, or 46 cents per share, a year earlier.
Excluding recent divestitures and other one-time items, earnings were 24 cents per share.
By that measure, analysts expected earnings of 10 cents per share, according to Thomson Reuters I/B/E/S estimates.
Revenue fell 22 percent to $12.05 billion, beating analysts' expectations of $11.85 billion.
Shares rose 37 cents, or 1.5 percent, to $25.87 in premarket trading.
(Reporting by Ernest Scheyder; Editing by Lisa Von Ahn)
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