MINNEAPOLIS — General Mills Inc. today reported fiscal first-quarter earnings of $638.9 million.
The company said it had profit of $1.03 per share. Earnings, adjusted for non-recurring gains, came to $1 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $4.36 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $4.18 billion.
General Mills shares have risen slightly more than 8% since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 3%. The stock has increased almost 8% in the past 12 months.