iStock.com/Wolterk
MINNEAPOLIS (AP) — General Mills Inc. on Wednesday reported fiscal second-quarter profit of $413 million.
On a per-share basis, the Minneapolis-based company said it had net income of 78 cents. Earnings, adjusted for asset impairment costs and non-recurring 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 $1.02 per share.
The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $4.86 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $4.77 billion.
