PITTSBURGH (AP) — Kraft Heinz Co. (KHC) on Thursday reported second-quarter net income of $449 million.
The Pittsburgh-based company said it had a net income of 37 cents per share. Earnings, adjusted for one-time gains and costs, were 78 cents per share.
The results beat Wall Street expectations. The average estimate of four 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 $6.41 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $6.64 billion.
Kraft shares have decreased 28% since the beginning of the year.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KHC at https://www.zacks.com/ap/KHC