Getting your player ready...
The nation’s largest food and beverage maker reported growth in the second quarter Monday, as consumers, undeterred by price increases, abandon restaurants for less costly meals at home and the company benefits from its restructuring plan.
Kraft is also benefiting from price increases, saying it has raised its prices, on average, 7 percent in the most recent quarter.
Profit rose to $732 million, or 48 cents per share in the quarter, up from $707 million, or 44 cents per share, a year earlier.
Earnings per share excluding items rose to 58 cents per share from 51 cents, Kraft said. That was above the 50 cents a share that analysts surveyed by Thomson Financial expected.
