UPDATE: Campbell Soup Reports Rise In FQ3 Profit

Campbell Soup Co CPB reported higher FQ3 profit on Monday. Campbell reported its FQ3 net income at $187 million, or $0.57 per share, up from $168 million, or $0.49 per share, in the year-earlier period. Its sales surged to $1.81 billion from $1.80 billion. Campbell's gross-profit margin dropped to 40.4% from 41.2%. However, analysts were expecting Q3 earnings of $0.52 per share on revenue of $1.80 billion. Campbell projects its full-year earnings per share at the high end of its projections. Campbell shares gained 0.77% to close at $35.51 on Friday. Read more from Benzinga's Company news.