Bayer's farming business drives Q1 earnings beat

Agriculture and pharmaceuticals company Bayer reported quarterly adjusted earnings rose a better-than-expected 27.5% on strong gains at its seeds and pesticides business.

First quarter earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-off items, came in at 5.25 billion euros ($5.55 billion), well above the average analyst estimate of 4.65 billion euros posted on the company's website.