CAMDEN, N.J. (AP) _ Campbell Soup Co. (CPB) on Wednesday reported fiscal first-quarter net income of $166 million.
On a per-share basis, the Camden, New Jersey-based company said it had profit of 55 cents. Earnings, adjusted for non-recurring costs and restructuring costs, were 78 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The maker of canned soup, Pepperidge Farm cookies and V8 juice posted revenue of $2.18 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $2.19 billion.
Campbell expects full-year earnings in the range of $2.50 to $2.55 per share.
Campbell shares have increased 44% since the beginning of the year, while the Standard & Poor's 500 index has climbed 23%. The stock has climbed 23% in the last 12 months.