MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — General Mills Inc. (GIS) on Wednesday reported fiscal second-quarter earnings of $795.7 million.
On a per-share basis, the Minneapolis-based company said it had profit of $1.42. Earnings, adjusted for non-recurring gains, were $1.40 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $5.24 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $5.16 billion.
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