Kraft shares up after 2nd-qtr results top Street

Kraft Foods Inc.'s shares jumped Friday after the food maker reported that its second-quarter profit beat market expectations.

THE SPARK: Kraft said after the market closed Thursday that its second-quarter profit rose 5 percent despite a dip in its revenue. The company trimmed costs and used higher prices to help offset unfavorable currency exchange rates, a shift in Easter shipments and a smaller line of products in North America.

Its adjusted earnings of 68 cents per share beat market expectations of 66 cents per share, according to FactSet. Revenue of $13.29 billion fell just short of analyst expectations.

The Northfield, Ill., company stood by its full year outlook.

Read Full Article from Businessweek

- Posted: 2012-08-03 14:52:15

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