PITTSBURGH (AP) _ Kraft Heinz Co. (KHC) on Thursday reported first-quarter earnings of $563 million.
On a per-share basis, the Pittsburgh-based company said it had net income of 46 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, came to 72 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese posted revenue of $6.39 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $6.26 billion.
Kraft shares have climbed 16% since the beginning of the year.
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
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