Kellogg Company Q1 Profit Increases, beats estimates

(RTTNews) - Kellogg Company (K) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $422 million, or $1.23 per share. This compares with $368 million, or $1.07 per share, in last year's first quarter.

Excluding items, Kellogg Company reported adjusted earnings of $1.10 per share for the period.

Analysts on average had expected the company to earn $0.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.5% to $3.67 billion from $3.58 billion last year.

Kellogg Company earnings at a glance (GAAP) :

-Earnings (Q1): $422 Mln. vs. $368 Mln. last year. -EPS (Q1): $1.23 vs. $1.07 last year. -Analyst Estimate: $0.93 -Revenue (Q1): $3.67 Bln vs. $3.58 Bln last year.