Kraft Q3 Earnings Meet Street Estimates, Top Line Misses

Kraft posted third earnings of $0.74 a share on revenue of $4.4 billion. Wall Street analysts were looking for earnings of $0.74 on sales of $4.47 million. Last year, the packaged food giant earned $0.65 per share on $4.39 billion in sales. As for details, Kraft saw its cheese sales rise 1.6 percent to $937 million due to higher prices. Net revenues in its refrigerated meals division rose 3.4 percent to $908 million. Krafts coffee sales grew 0.5 percent to $628 million. Meanwhile, meals and desserts rose 6.7 percent to $512 million while enhancers and snacks fell 2.5 percent to $471 million. TheStreet's Gregg Greenberg has details from New York.

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