Adjusted EPS came in at 60 cents, narrowly topping the 59 cents Wall Street expected, Reuters noted.
Sales during the fourth quarter jumped 12% to $4.07 billion, but that missed analysts’ forecast of $4.11 billion.
The food products maker lowered its EPS outlook for 2013 to $2.65. Analysts had been expecting $2.75.
Investors were not happy with the 2013 guidance. Shares of General Mills slid about 2% in Wednesday mid-day trading.
Analysts cited by Reuters said the 2013 outlook estimated earnings growth at just 3.7%. That was considered paltry even in the current economic environment.
Other analysts pointed out that the company was spending money to develop new products, which suggested longer term benefits.