General Mills Q2 profit jumps

Investor's Business Daily

The maker of Cheerios cereal, Hamburger Helper and Haagen-Dazs ice cream said EPS rose 13% to 86 cents, beating views by 7 cents. Sales rose 6% to $4.88 bil, in line with views, boosted by the purchase of Yoki Alimentos, a Brazilian food company. U.S. sales rose 2%, and international sales grew 19%. General Mills (GIS) expects global economics to remain "challenging," but expects its new product offerings to do well. It sees full-year EPS of $2.65-$2.67, up from a previous estimate of $2.65. Analysts are expecting $2.67. Shares fell 1.2%.

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