The maker of Cheerios, Yoplait and Betty Crocker products said Wednesday that its fiscal third-quarter net income rose 3 percent, free of a charge that hurt its results a year earlier.
For the three months that ended Feb. 23, the company earned $410.6 million, or 64 cents per share. That’s up from $398.4 million, or 60 cents per share, a year earlier.
Last year’s third quarter included a $6.1 million charge.
Removing certain items, earnings were 62 cents per share. Analysts expected 64 cents per share, according to a FactSet survey.
Revenue dipped 1 percent to $4.38 billion from $4.43 billion, hindered by bad winter weather, lower volumes and unfavorable foreign currency translation.
Wall Street was calling for $4.41 billion in revenue.
U.S. retail sales…
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