General Mills shares rise after earnings and sales beat expectations

These charts show one possible silver lining of the pandemic

<p>Shares of General Mills Inc. GIS, -0.19% rose nearly 1% Thursday before market release after the food maker reported second-quarter earnings and sales that beat expectations. Net income totaled $ 688.4 million, or $ 1.11, compared to $ 580.8 million, or 95 cents per share. Adjusted EPS was $ 1.06 ahead of the FactSet consensus for 97 cents. Sales of $ 4.72 billion were up from $ 4.42 billion last year and beat the FactSet consensus by $ 4.65 billion. Sales in North America rose 9% to $ 2.92 billion, with US meals and baking up 18%, but snacks down 2%. Sales of pets rose 18% to $ 460 million, while convenience stores and restaurants fell 14% to $ 440 million. General Mills expects current home consumption trends related to COVID-19 to continue for the remainder of fiscal 2021, with organic sales growth in the third quarter similar to that of the second quarter. General Mills shares are up 13% over the past year while the S&P 500 SPX index, + 0.18%, is up 16% over the period.