Source: Blue Buffalo
General Mills on Wednesday reported quarterly sales below Wall Street estimates, hurt by lower demand for its snacks in North America.
Net earnings attributable to the company rose to $570.2 million, or 94 cents per share, in the fourth quarter ended May 26, from $354.4 million, or 59 cents per share, a year earlier.
Net sales rose 6.9% to $4.16 billion, below the average analyst estimate of $4.24 billion, according to Refinitiv IBES data.
The boost in quarterly sales came from its acquisition of pet foods company Blue Buffalo last year.