Campbell Soup posts higher quarterly profit

on February 22 2010 7:49 AM

Campbell Soup Co posted a higher quarterly profit on Monday, less than a week after cutting its 2010 sales forecast amid weakness in the U.S. ready-to-serve soup market.

Earnings for the second quarter ended January 31 rose to $259 million, or 74 cents share, from $233 million, or 64 cents a share, a year earlier.

Analysts on average forecast 74 cents a share, according to Reuters Estimates.

Sales of soup in the United States fell 5 percent. Consumers have been choosing to save money by not paying extra for ready-to-serve soup.

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