US breakfast cereals maker General Mills reported earnings per share (EPS) of 66 cents for its fiscal first quarter, topping the 63 cents expected by the consensus.

Revenue rose 5% to $4.05bn with the help of its recently acquired yoghurt unit Yoplait International. Analysts were expecting a just slightly higher figure of $4.08bn.

Looking forward, General Mills reiterated its full-year EPS outlook of $2.65, more or less in line with the consensus estimate of $2.66.

"Results for the first quarter were broadly consistent with our plans, and included sequential improvement in our volume and gross margin trends from the fourth quarter of 2012," said Chief Executive Ken Powell.

"In our core US market, we are seeing slow improvement in price and volume trends across our retail food categories."

By 17:17, shares of General Mills were up 1.72% to $39.99.

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