Summary Box: Kraft's profit up 4 percent in 2Q

AP News
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Posted: Aug 04, 2011 3:40 PM
Summary Box: Kraft's profit up 4 percent in 2Q

WHAT HAPPENED: Kraft Foods Inc. reported its second-quarter earnings on Thursday as it announced plans to split its company in two.

RESULTS: Kraft's net income for the quarter climbed 4 percent to $976 million, or 55 cents per share. Revenue rose 13 percent to $13.88 billion. Analysts polled by FactSet anticipated it would earn 58 cents per share on revenue of $13.08 billion.

WHAT'S NEXT: Kraft boosted its full-year forecast and expects operating earnings of at least $2.25 per share for the year, up from its prior guidance of $2.20 per share. Analysts expect earnings of $2.23 per share.