MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — General Mills Inc. (GIS) on Wednesday reported fiscal second-quarter profit of $595.5 million.
On a per-share basis, the Minneapolis-based company said it had net income of $1.02. Earnings, adjusted for asset impairment costs and non-recurring costs, came to $1.25 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $5.14 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $5.34 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GIS at https://www.zacks.com/ap/GIS