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.
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