General Mills Q2 Profit Decreases, misses estimates

(RTTNews) - General Mills (GIS) reported a profit for second quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $597.2 million, or $0.97 per share. This compares with $688.4 million, or $1.11 per share, in last year's second quarter.

Excluding items, General Mills reported adjusted earnings of $609.4 million or $0.99 per share for the period.

Analysts on average had expected the company to earn $1.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.4% to $5.02 billion from $4.72 billion last year.

General Mills earnings at a glance:

-Earnings (Q2): $597.2 Mln. vs. $688.4 Mln. last year. -EPS (Q2): $0.97 vs. $1.11 last year. -Analyst Estimates: $1.05 -Revenue (Q2): $5.02 Bln vs. $4.72 Bln last year.