dished out second-quarter earnings that fell 4% but beat analysts' expectations by a penny, thanks to the success of its "M'm! M'm! Good!" ad campaign and wintry conditions that boosted sales.
The Camden, N.J., company, whose brands include
Mexican foods, said second-quarter earnings were $271 million, or 65 cents a share, compared with $281 million, or 65 cents a share, in the same period last year. According to a survey by
First Call/Thomson Financial
, 13 analysts expected second-quarter earnings of 64 cents a share for the quarter.
Sales for the quarter grew to $1.96 billion, up slightly from $1.92 billion last year.
Shares of Campbell were down 33 cents, or 1%, to $30.40 in Wednesday trading on the
New York Stock Exchange