General Mills Q1 Profit Drops 3%

(RTTNews) - General Mills (GIS) released earnings for first quarter that fell compared to the same period last year.

The company said its earnings declined to $476.6 million, or $0.78 per share. This was lower than $489.3 million, or $0.79 per share, in last year's first quarter.

Analysts had expected the company to earn $0.76 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 7.1% to $3.91 billion. This was down from $4.21 billion last year.

General Mills earnings at a glance:

-Earnings (Q1): $476.6 Mln. vs. $489.3 Mln. last year. -Earnings Decline (Y-o-Y): -2.6% -EPS (Q1): $0.78 vs. $0.79 last year. -EPS Decline (Y-o-Y): -1.3% -Analysts Estimate: $0.76 -Revenue (Q1): $3.91 Bln vs. $4.21 Bln last year. -Revenue Change (Y-o-Y): -7.1%