General Mills Q3 Profit Decreases, but beats estimates

(RTTNews) - General Mills (GIS) released earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $553.1 million, or $0.92 per share. This compares with $660.3 million, or $1.08 per share, in last year's third quarter.

Excluding items, General Mills reported adjusted earnings of $581.3 million or $0.97 per share for the period.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.0% to $5.13 billion from $4.54 billion last year.

General Mills earnings at a glance (GAAP) :

-Earnings (Q3): $553.1 Mln. vs. $660.3 Mln. last year. -EPS (Q3): $0.92 vs. $1.08 last year. -Analyst Estimates: $0.92 -Revenue (Q3): $5.13 Bln vs. $4.54 Bln last year.