CHICAGO (AP) _ Archer Daniels Midland Co. (ADM) on Thursday reported fourth-quarter profit of $1.02 billion.

The Chicago-based company said it had net income of $1.84 per share. Earnings, adjusted for one-time gains and costs, were $1.93 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.

The agribusiness giant posted revenue of $26.23 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $26.22 billion.

For the year, the company reported profit of $4.34 billion, or $7.71 per share. Revenue was reported as $101.85 billion.

ADM shares have dropped almost 8% since the beginning of the year, while the S&P's 500 index has declined 16%. The stock has increased 25% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADM at https://www.zacks.com/ap/ADM

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News