Dividend.com: Kraft Gets It Done

Kraft Foods' Profit Rises 10%, Beats Expectations

Packaged food products company Kraft Foods(KFT Quote) said Tuesday that its first-quarter profit beat expectations, and it also reiterated its full-year earnings forecast.

The Northfield, Ill.-based company reported first quarter net income of $660 million, or 45 cents per share, up 10% from $599 million, or 39 cents per share, in the year-ago period. Revenue fell 6.5% to $9.4 billion from $10.05 billion in the same quarter last year.

This quarterly profit was enough to beat analyst estimates, but overall revenue fell still short of the average forecast. On average, Wall Street analysts expected a profit of 40 cents a share on revenue of $9.67 billion. ...