General Mills Profit Trails Estimates as Costs Increase
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General Mills Inc., the maker of Cheerios cereal, reported second-quarter profit that trailed analysts’ estimates because of higher commodity costs and unfavorable currency fluctuations.
Adjusted earnings per share for the period ended Nov. 24 were 83 cents, the Minneapolis-based company said in a statement today. Analysts projected 87 cents, the average of estimates compiled by Bloomberg.