CHICAGO Reuters Campbell Soup Co CPB.N reported higher-than-expected quarterly earnings on Friday, helped by cost cuts and sales of V8 juice drinks, even as U.S. soup sales fell.
The company also forecast sales growth for the current fiscal year to be below its long-term growth target.
Net income was $113 million, or 33 cents per share, in Campbells fiscal fourth quarter that ended on Aug 1, compared to $69 million, or 20 cents per share, a year earlier.
Analysts on average were expecting 30 cents per share, according to Thomson Reuters I/B/E/S.
U.S. soup sales fell 5 percent as the company had to spend more on promotions.
Overall sales edged lower to $1.52 billion, below the average analyst estimate of $1.59 billion.
Reporting by Brad Dorfman and Martinne Geller; Editing by Derek Caney
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