Campbell Reports Strong Profits

The company posted more than $2.5 billion in revenue.

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CAMDEN, N.J. (AP) β€” Campbell Soup Co. on Wednesday reported fiscal first-quarter profit of $234 million.

The New Jersey-based company said it had profit of 78 cents per share. Earnings, adjusted for non-recurring costs, came to 91 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The maker of canned soup, Pepperidge Farm cookies and V8 juice posted revenue of $2.52 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $2.51 billion.

Campbell expects full-year earnings in the range of $3.09 to $3.15 per share.

The company was one of the biggest winners within the S&P 500 in early trading Wednesday; shares of its stock were up 5.7%.

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