Kraft Foods Inc.'s 2Q net income rose 13.3 percent
Kraft Foods Inc. says its net income grew 13.3 percent in the second quarter, but it trimmed its sales outlook in an increasingly competitive market.
The nation's largest food maker said Thursday that it earned $937 million, or 53 cents per share, for the quarter. That's up from $827 million, or 56 cents per share, a year earlier.
Kraft, which makes Oreo cookies and Ritz crackers and bought British confectioner Cadbury in February, had more shares outstanding in this year's second quarter.
Its revenue rose 25.3 percent to $12.3 billion, with much of the gain at Cadbury.
Analysts expected earnings of 52 cents per share on revenue of $12.33 billion.
Kraft now expects organic net revenue to grow between 3 percent and 4 percent.
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