Kraft Foods 3Q operating income beats expectations; revenue rises 9.8% |
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Wed, 31 Oct 2007 12:16
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NEW YORK (Thomson Financial) - Kraft Foods Inc. Wednesday said adjusted third-quarter operating income fell to $1.18 billion, or 44 cents a share, beating the mean estimate of analysts polled by Thomson Financial of 42 cents a share.On a non-adjusted basis, the company earned 38 cents a share.Revenue for the Northfield, Ill.-based food company rose 9.8% to $9.05 billion, ahead of the $8.68 billion analyst estimate. The company credited broad-based organic growth for the rise in revenue.In the year-ago period, the company posted operating income of $1.26 billion, or 46 cents a share, on revenue of $8.24 billion.Kraft sees adjusted 2007 earnings of $1.80 to $1.82 a share. Analysts are currently looking for earnings of $1.81 a share.Shares of Kraft closed Tuesday at $32.60.Ryan Vlastelicarv/pcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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