General Mills Q4 Profit Increases, beats estimates

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

The company's earnings came in at $822.8 million, or $1.35 per share. This compares with $416.8 million, or $0.68 per share, in last year's fourth quarter.

Excluding items, General Mills reported adjusted earnings of $1.12 per share for the period.

Analysts on average had expected the company to earn $1.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.2% to $4.89 billion from $4.52 billion last year.

General Mills earnings at a glance (GAAP) :

-Earnings (Q4): $822.8 Mln. vs. $416.8 Mln. last year. -EPS (Q4): $1.35 vs. $0.68 last year. -Analyst Estimate: $1.01 -Revenue (Q4): $4.89 Bln vs. $4.52 Bln last year.