General Mills 2Q Beats Estimates

General Mills Inc. (GIS) said Wednesday its second-quarter profit fell 3%, but adjusted results beat expectations. The company said earnings in the quarter ending Nov. 23 fell to $378.2 million, or $1.09 per share, from $390.5 million, or $1.14 per share, last year. But excluding charges on commodity positions and a gain on the sale of its Pop Secret microwave popcorn business, profit totaled $1.36 per share.

Revenue rose 8 percent to $4.01 billion from $3.7 billion last year. The results beat analyst estimates of $1.23 per share on revenue of $4 billion, on average.

by Mark Anderson | 12/17/08 | Stocks: GIS,

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General Mills 2Q Beats Estimates

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