MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — General Mills Inc. (GIS) on Wednesday reported fiscal first-quarter net income of $579.9 million.
The Minneapolis-based company said it had net income of $1.03 per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.07 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $4.85 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $4.78 billion.
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