General Mills Reports Strong Quarter

The packaged foods giant posted revenue of $5.2 billion.

I Stock 1357688933

MINNEAPOLIS (AP) — General Mills on Tuesday reported fiscal second-quarter net income of $605.9 million.

On a per-share basis, the Minneapolis-based company said it had net income of $1.01. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.10 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $5.22 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $5.15 billion.

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