CAMDEN, N.J. (AP) -- Campbell Soup Co. says its fiscal fourth-quarter profit slipped 12 percent, weighed down by restructuring charges.
But the food maker's adjusted results surpassed Wall Street's expectations. Its revenue rose on strong results from its baking and snacking segment.
The maker of Pepperidge Farm cookies, Goldfish snacks and its iconic soup reported net income of $100 million, or 31 cents per share, for the period ended July 31. That's down from $113 million, or 33 cents per share, a year earlier.
Excluding the charges, earnings were 43 cents per share. That topped the 38 cents per share analysts forecast.
Revenue climbed 6 percent to $1.61 billion from $1.52 billion. Wall Street expected revenue of $1.58 billion.
The Camden, N.J. company said soup profits improved on reduced promotional spending, while higher costs and increased promotional spending lowered beverage profits.