UPDATE 1-Kellogg 3rd-quarter profit rises, tops Street view
Published: 29 Oct 2009 04:18:43 PST* EPS $0.94; Wall Street view $0.84 view
* Cost-cutting, lower commodity prices help
CHICAGO, Oct 29 - Kellogg Co, the world's largest cereal maker, posted higher quarterly profit Thursday, topping analysts' estimates, boosted by lower commodity costs and the company's efforts to rein in expenses.
The maker of Kellogg's Frosted Flakes cereal and Keebler cookies said profit was $361 million, or 94 cents a share, in the third quarter, up from $342 million, or 89 cents a share, a year earlier.
Analysts on average had forecast 84 cents a share, according to Thomson Reuters I/B/E/S.
The earnings beat came despite pressure on sales from strength in the dollar and sluggish growth in North America
If you believe an article violates your rights or the rights of others, please contact us.
Digg
Reddit
Mixx it
FacebookRelated News
Most Read
- 1BYD Auto to expand into solar energy field
- 2Entrepreneurblues
- 3ANALYSIS-CFTC cautious on position limits, set
- 4AUTOSHOW-INTERVIEW-UPDATE 1-Changan Ford Mazda
- 5Beware of phishing scams if you are using
- 6Beyond The Anti-Virus Arms Race
- 7Help protect yourself from phishing scams and
- 8China Longyuan Power plans HK$17.5-bln HK IPO
- 9Acer's Mobile Gamble
- 10LED flexible light strip supplier spots
