UPDATE: General Mills Posts Upbeat Q3 Profit

General Mills

reported better-than-expected third-quarter earnings and raised its full-year view. For fiscal 2013, General Mills expects earnings of $2.66 to $2.68 per share, versus its earlier forecast of $2.65 to $2.67 per share. Its quarterly net income rose to $398.4 million, or $0.60 per share, from $391.5 million, or $0.58 per share, in the year-ago period. Excluding one-time items, General Mills earned $0.64 per share, beating analysts' estimates of $0.57 per share. Its net sales climbed 7.5% to $4.43 billion. General Mills shares closed at $46.42 yesterday.