Kraft Cooks Up Stronger Earnings But Guidance Light
Posted on November 07, 2012 at 15:00 PM EST
Macaroni and cheese maker Kraft Foods Group (KRFT) reported stronger-than-expected results and reaffirmed full-year guidance in its first report as an independent company. Kraft said earnings climbed 13% to 79 cents per share, 10 cents over the consensus of analysts surveyed by Thomson Reuters. Revenue climbed 3% to $4.61 billion, ahead of analyst forecasts. The company, whose brands include Oscar Mayer, Miracle Whip and Velveeta, said revenue in