CAMDEN, N.J. (AP) — Campbell Soup Co. on Wednesday reported fiscal first-quarter net income of $297 million.
The New Jersey-based company said it had profit of 99 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.02 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The maker of canned soup, Pepperidge Farm cookies and V8 juice posted revenue of $2.58 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $2.43 billion.
Campbell expects full-year earnings in the range of $2.90 to $3 per share.
Shares of the company's stock were up $3.19 to $56.18 in trading Wednesday.