UPDATE: Campbell Soup Posts Higher FQ2 Profit

Campbell Soup Co CPB reported a 71% gain in its fiscal second-quarter profit. Campbell's quarterly earnings surged to $325 million, or $1.03 per share, versus $190 million, or $0.60 per share, in the year-ago quarter. Excluding special costs, it earned $1.04 per share. Its sales climbed 5.5% to $2.28 billion. However, analysts were projecting earnings of $0.73 per share on revenue of $2.27 billion. Campbell's gross margin rose to 35.7% versus 35.2%. Campbell shares gained 3.77% to $42.40 in pre-market trading.