UPDATE: General Mills Posts Downbeat Q2 Profit - General Mills (NYSE:GIS)

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General Mills (NYSE: GIS) reported a 1.5% gain in its second-quarter profit. General Mills' quarterly profit surged to $549.9 million, or $0.84 per share, versus a year-ago profit of $541.6 million, or $0.82 per share. Its adjusted earnings dropped to $0.83 from $0.86 per share. Its revenue declined to $4.876 billion from $4.882 billion. However, analysts were projecting earnings of $0.88 per share on revenue of $4.95 billion.General Mills shares fell 2.68% to $48.25 in pre-market trading.

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