BATTLE CREEK — Kellogg Company on Thursday reported first-quarter net income of $422 million.
On a per-share basis, the Battle Creek-based company said it had profit of $1.23. Earnings, adjusted for non-recurring gains, came to $1.10 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The maker of Frosted Flakes, Pop Tarts and Eggo waffles posted revenue of $3.67 billion in the period, also exceeding Wall Street forecasts. Seven analysts surveyed by Zacks expected $3.58 billion.