General Mills Q2 Profit Increases, beats estimates

(RTTNews) - General Mills (GIS) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $605.9 million, or $1.01 per share. This compares with $597.2 million, or $0.97 per share, in last year's second quarter.

Excluding items, General Mills reported adjusted earnings of $661.8 million or $1.10 per share for the period.

Analysts on average had expected the company to earn $1.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.0% to $5.22 billion from $5.02 billion last year.

General Mills earnings at a glance (GAAP) :

-Earnings (Q2): $605.9 Mln. vs. $597.2 Mln. last year. -EPS (Q2): $1.01 vs. $0.97 last year. -Analyst Estimate: $1.06 -Revenue (Q2): $5.22 Bln vs. $5.02 Bln last year.