Filed under: Earnings reports, Forecasts, Consumer experience, General Mills (GIS), Morgan Stanley (MS), Commodities

This morning, better-than-expected earnings results at Morgan Stanley (NYSE: MS) eased investors’ fears about the weak U.S. economy. Shares of food maker General Mills Inc. (NYSE: GIS) have been also rallying in early trading after posting a surge of 61% for its third quarter profit.

The company said its quarterly profit climbed to $430.1 million, or $1.23 per share due to higher demand for its products. Excluding one-time items, the company’s earnings figures came in at 87 cents a share, exceeding analysts’ forecast for a profit of 79 cents a share.

General Mills posted 12% growth for its third-quarter revenue, which surged to $3.41 billion from $3.05 billion a year ago. This was above analysts’ predictions for revenue of $3.24 billion in the quarter, according to Thomson Financial.

Continue reading General Mills (GIS) quarterly profit surges 61% on strong sales

Permalink | Email this | Comments

Share This

This entry was posted on Wednesday, March 19th, 2008 at 11:44 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.