MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — General Mills Inc. (GIS) on Wednesday reported fiscal first-quarter profit of $1.2 billion.
The Minneapolis-based company said it had net income of $2.22 per share. Earnings, adjusted for one-time gains and costs, came to 86 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $4.52 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $4.5 billion.
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