General Mills Q4 Profit Decreases, But Beats Estimates

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

The company's earnings totaled $557.5 million, or $0.98 per share. This compares with $614.9 million, or $1.03 per share, in last year's fourth quarter.

Excluding items, General Mills reported adjusted earnings of $1.01 per share for the period.

Analysts on average had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.4% to $4.71 billion from $5.03 billion last year.

General Mills earnings at a glance (GAAP) :

-Earnings (Q4): $557.5 Mln. vs. $614.9 Mln. last year. -EPS (Q4): $0.98 vs. $1.03 last year. -Revenue (Q4): $4.71 Bln vs. $5.03 Bln last year.