PITTSBURGH (AP) _ Kraft Heinz Co. (KHC) on Wednesday reported second-quarter net income of $265 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Pittsburgh-based company said it had net income of 21 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, were 70 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share. The maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese posted revenue of $6.55 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $6.39 billion. This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KHC at https://www.zacks.com/ap/KHC