Kraft Foods Results Miss Estimate - Quick Facts

(RTTNews) - Kraft Foods Group Inc (KRFT) Wednesday reported second-quarter net earnings of $482 million or $0.80 per share, compared with $829 million or $1.38 per share last year.

Results for the quarter included a loss of $0.02 per share from hedging activities, while the prior year had $0.62 per share benefit from market-based impacts to post-employment benefit plans.

On average, 15 analysts polled by Thomson Reuters projected earnings of $0.83 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter was up 0.7 percent at $4.75 billion, compared with $4.72 billion in the prior year. Thirteen analysts had a consensus sales estimate of $4.84 billion.