August 3, 2018 / 11:41 AM / 18 days ago

Kraft Heinz quarterly sales top Wall Street's estimates

Aug 3 (Reuters) - Velveeta cheese maker Kraft Heinz Co topped quarterly sales estimates as it raised prices to tackle higher input costs, sending its shares up nearly 5 percent before the bell.

Net income attributable to the company’s shareholders fell to $756 million, or 62 cents per share, in the second quarter ended June 30, from $1.16 billion, or 94 cents per share, a year earlier.

The company, which also houses brands such as Philadelphia cream cheese and Heinz ketchup, said net sales rose to $6.69 billion from $6.64 billion.

Analyst on average were expecting revenue of $6.59 billion, according to Thomson Reuters I/B/E/S. (Reporting by Nivedita Balu in Bengaluru)

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