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News Watch
- 10/17/2008 2:15:36 PM
By Chip Brian, SmarTrend Analytics Team
Today, the second largest food company in the world, Kraft Foods Inc. (NYSE:KFT), posted earnings results for their 2Q period, which ended June 30. Profit rose 4% to $732 million, or $0.48 per share, up from last year's $707 million, or $0.44 per share. Revenue increased 21% to $11.2 billion from $9.21 billion last year. Increased product prices offset higher material and ingredient costs, and enabled the company to remain profitable.
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