Kraft: 2Q Earnings Snapshot
PITTSBURGH (AP) _ Kraft Heinz Co. (KHC) on Friday reported second-quarter profit of $756 million.
The Pittsburgh-based company said it had net income of 62 cents per share. Earnings, adjusted for asset impairment costs and restructuring costs, came to $1 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese posted revenue of $6.69 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $6.58 billion.
Kraft shares have fallen 24 percent since the beginning of the year.