MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — General Mills Inc. (GIS) on Wednesday reported fiscal third-quarter profit of $303.1 million.
On a per-share basis, the Minneapolis-based company said it had net income of 56 cents. Earnings, adjusted for one-time gains and costs, were 64 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $4.44 billion in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $4.48 billion.
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