PITTSBURGH (AP) — PITTSBURGH (AP) — The Kraft Heinz Company (KHC) on Wednesday reported second-quarter net income of $1 billion.
The Pittsburgh-based company said it had net income of 81 cents per share. Earnings, adjusted for non-recurring gains, were 79 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese posted revenue of $6.72 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $6.81 billion.
Kraft Heinz expects full-year earnings in the range of $2.83 to $2.91 per share.
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