General Mills (GIS) reported first quarter adjusted earnings per share of $1.00, up 27 percent in constant currency, primarily driven by higher adjusted operating profit and higher after-tax earnings from joint ventures, partially offset by a higher adjusted effective tax rate and higher average shares outstanding. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.87, for the quarter. Analysts' estimates typically exclude special items. Operating profit was $854 million, up 29 percent year-on-year. Constant-currency adjusted operating profit increased 22 percent, for the quarter.
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