Markets

Kraft Foods Group Reports Solid Q3 Results in First Report Following Break-up (KRFT)

Packaged foods giant Kraft Foods Group Inc. ( KRFT ) on Wednesday posted better-than-expected third quarter earnings results in its first report following an Oct. 1 move to spin off its international operations.

The Northfield, IL-based company reported third quarter net income of $470 million, or 79 cents per share, compared with $417 million, or 70 cents per share, in the year-ago period.

Revenue gained 3% from last year to $4.6 billion.

On average, Wall Street analysts expected a much smaller profit of 69 cents per share, on lower revenue of $4.54 billion.

Looking ahead, KRFT said it still expects full-year 2012 earnings of $2.60 per share.

Kraft Foods shares rose $1.30, or +2.9%, in premarket trading Wednesday.

The Bottom Line

We are waiting for official dividend data to put forth our ratings on this U.S. Based food conglomerate.

Kraft Foods Group Inc. ( KRFT ) is not currently rated by Dividend.com.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Stocks