PITTSBURGH (AP) — PITTSBURGH (AP) — The Kraft Heinz Company (KHC) on Wednesday reported first-quarter profit of $798 million.
On a per-share basis, the Pittsburgh-based company said it had net income of 67 cents. Earnings, adjusted for one-time gains and costs, were 58 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The processed food company with dual headquarters in Pittsburgh and Chicago posted revenue of $6.05 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $5.91 billion.
Kraft Heinz expects full-year earnings in the range of $1.98 to $2.10 per share.
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