Tasty Quarter at Campbell Soup

The shares jump after it beats estimates by 2 cents a share.
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Campbell Soup's

(CPB) - Get Report

fourth-quarter earnings jumped a better-than-expected 63% from a year ago, helped by favorable currency translation and moderately higher sales.

The company earned $96 million, or 23 cents a share, in the quarter ended July 21, compared with $59 million, or 14 cents a share, a year ago. The year-ago period included a restructuring charge of 5 cents a share and a gain from an asset sale of 2 cents a share.

Revenue rose 5% from a year ago to $1.50 billion.

Analysts were expecting earnings of 21 cents a share on sales of $1.52 billion, according to Thomson First Call.

Within its flagship soups, sauces and beverages business, Campbell said operating earnings rose to $104 million in the latest quarter from $78 million a year ago, boosted by lower marketing costs, higher selling prices and improved productivity. Sales rose 2% in the unit to $521 million.

In its baking and snacking business line, sales rose 7% from a year ago to $439 million, while operating earnings were $69 million, up from $55 million.

Shares rose $1.66, or 5.3%, to $32.75.