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ConAgra Foods 2Q earnings fall, meet Street view

ConAgra Foods 2Q earnings fall, meet Street view

ConAgra Foods Inc. says a poor consumer response to promotions helped cause its fiscal second-quarter net income to fall 16 percent.
The maker of food brands including Banquet and Chef Boyardee reported Tuesday that it earned $200.9 million, or 45 cents per share, for the period ended Nov. 28. That's down from $239.7 million, or 54 cents per share, a year ago.
The Omaha, Nebraska-based company warned investors earlier this month that its results would be weaker than initially expected.
Still, the performance met analysts' estimates.
Revenue rose 2 percent to $3.16 billion, topping Wall Street's $3.13 billion.
ConAgra expects fiscal 2011 adjusted earnings to rise at a low-single digit percentage rate from 2010.