Kraft Heinz Beats Earnings Estimates as Condiment Sales Grow
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Kraft Heinz Co., formed by a merger of two U.S. food giants last year, posted first-quarter sales and profit that topped estimates after the company cut expenses and made inroads with new condiments.
Excluding some items, profit was 73 cents per share in the period, the company said in a statement Wednesday. The average estimate of analysts surveyed by Bloomberg was 61 cents. Revenue for the quarter was $6.57 billion, beating an estimate of $6.48 billion.