Chiquita Brands International Inc. (CQB) saw adjusted earnings and revenue slide compared to the year-ago quarter, but the results still handily topped expectations.

The company credited a return to profitability in Europe and a “diversified portfolio” in North America for the better-than-expected results, as the company said its salad and banana businesses delivered profit consistent with the year-ago quarter.

The banana-purveyor posted profit of $95 million or $2.06 a share in the second quarter, up from year-ago earnings of $89 million or $1.95 a share. Adjusted earnings slipped 33% to $1.40 a share, compared with last year’s second-quarter adjusted earnings of $1.95.

Revenue fell 4% to $916 million, down from year-ago sales of $954.57 million.

The results easily topped the Street’s view; analysts had predicted earnings of $1.10 a share on revenue of $885 million, according to a poll by Thomson Reuters.

“We believe our diversification and profitable growth strategy will result in strong profitability for the full year. However, as we previously noted, a sustained, significant reduction in European exchange rates was not factored into our prior expectations,” said Fernando Aguirre, chairman and chief executive officer, in a statement. “We are now adjusting our full-year comparable income estimate to $80 to $90 million assuming these rates remain at lower levels than earlier this year.”

Aguirre said 2010 would be one of the company’s most profitable years in a decade, irrespective of the economic downturn.

Shares of Chiquita rose 4 cents, a fraction of a percent on Thursday to close the session at $13.21. The stock soared upon the announcement of results, gaining $1.29 or 9.77% after the market closed.