Nov 22 (Reuters) - Campbell Soup Co, the world’s largest soupmaker, reported a better-than-expected quarterly profit on Tuesday, helped by cost-cutting and lower commodity prices.
The company’s net income jumped to $292 million, or 94 cents per share, in the first quarter ended Oct. 30, from $194 million, or 62 cents per share a year earlier.
Excluding certain items, Campbell Soup earned $1.00 per share, beating analysts’ average estimate of 95 cents per share, according to Thomson Reuters I/B/E/S.
Net sales were little changed at $2.20 billion and were in line with analysts’ expectations. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Sai Sachin Ravikumar)