General Mills Q2 Profit Increases, Beats Estimates

(RTTNews) - General Mills (GIS) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $795.7 million, or $1.42 per share. This compares with $595.5 million, or $1.02 per share, in last year's second quarter.

Excluding items, General Mills reported adjusted earnings of $785.2 million or $1.40 per share for the period.

Analysts on average had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.0% to $5.240 billion from $5.139 billion last year.

General Mills earnings at a glance (GAAP) :

-Earnings (Q2): $795.7 Mln. vs. $595.5 Mln. last year. -EPS (Q2): $1.42 vs. $1.02 last year. -Revenue (Q2): $5.240 Bln vs. $5.139 Bln last year.