General Mills Q3 Profit Decreases, But Beats Estimates

(RTTNews) - General Mills (GIS) revealed a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $625.6 million, or $1.12 per share. This compares with $670.1 million, or $1.17 per share, last year.

Excluding items, General Mills reported adjusted earnings of $551.3 million or $1.00 per share for the period.

Analysts on average had expected the company to earn $0.96 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 5.0% to $4.842 billion from $5.099 billion last year.

General Mills earnings at a glance (GAAP) :

-Earnings: $625.6 Mln. vs. $670.1 Mln. last year. -EPS: $1.12 vs. $1.17 last year. -Revenue: $4.842 Bln vs. $5.099 Bln last year.