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Kraft Heinz Stock Higher on Q2 Earnings Beat

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Kraft Heinz (NASDAQ: KHC ) stock was up on Friday following the release of its earnings report for the second quarter of 2018.

Kraft Heinz Stock Higher on Q2 Earnings Beat

Kraft Heinz's earnings report for the second quarter of 2018 also includes net income of $755 million. This is down from the company's net income of $1.16 billion that was reported during the same time last year.

During the second quarter of the year, Kraft Heinz reported earnings per share of $1.00. This is an increase over the company's earnings per share of 98 cents from the second quarter of 2017. It was also good news for KHC stock by coming in above Wall Street's earnings per share estimate of 96 cents for the period.

Operating income reported by Kraft Heinz for the second quarter of the year came in at $1.33 billion. The food company's operating income from the second quarter of the previous year was $1.64 billion.

Kraft Heinz also reported revenue of $6.69 billion for the second quarter of 2018. This is up from the company's revenue of $6.64 billion that was reported in the same period of the year prior. It was also a boon to KHC stock by beating out analysts' revenue estimate of $6.59 billion for the quarter.

"We believe we are now in a position to drive sustainable top-line growth from a strong pipeline of new product, marketing and whitespace initiatives that are backed by investments in capabilities for brand and category advantage," Kraft Heinz CEO Bernardo Hees said in a statement .

KHC stock was up 7% as of Friday morning, but is down 22% year-to-date.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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The post Kraft Heinz Stock Higher on Q2 Earnings Beat appeared first on InvestorPlace .

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


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

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