MINNEAPOLIS (AP) — General Mills Inc. (GIS) on Wednesday reported fiscal fourth-quarter net income of $294 million.
On a per-share basis, the Minneapolis-based company said it had profit of 53 cents. Earnings, adjusted for restructuring costs and non-recurring costs, were 74 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $4.56 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $4.6 billion.
For the year, the company reported profit of $2.3 billion, or $4.10 per share. Revenue was reported as $19.49 billion.
