General Mills Q3 Profit Decreases, but beats estimates

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.

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