Kraft beats 3Q profit expectations, misses revenue forecasts

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NORTHFIELD, Illinois — Kraft Foods Group Inc. (KRFT) on Wednesday reported third-quarter earnings of $446 million.

The Northfield, Illinois-based company said it had profit of 74 cents per share. Earnings, adjusted for non-recurring costs, were 78 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese posted revenue of $4.4 billion in the period, missing Street forecasts. Analysts expected $4.52 billion, according to Zacks.

Kraft shares have climbed almost 6 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 7 percent. In the final minutes of trading on Wednesday, shares hit $56.91, an increase of 2 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. KRFT stock research report from Zacks.

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Keywords:Kraft,Earnings Report

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