MINNEAPOLIS — General Mills Inc. today reported fiscal first-quarter profit of $820 million.
The company said it had profit of $1.35 per share. Earnings, adjusted for one-time gains and costs, were $1.11 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $4.72 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $4.67 billion.