Kraft earnings beat expectations; sales fall short

By Emily Bryson York
Posted Aug. 5, 2010 at 3:31 p.m.

Kraft posted strong second-quarter earnings that beat analyst expectations by a penny, with earnings per share of 53 cents. Sales surged 25 percent, following the acquisition of Cadbury, to $12.25 billion. Still, the increase fell short of consensus, which was $12.33 billion.

“We delivered strong earnings in the quarter and the first half of the year, despite difficult conditions in many markets that tempered top-line growth,” Kraft chairman and CEO Irene Rosenfeld said in a statement. “We’re making excellent progress on the Cadbury integration and expect to realize even greater synergies.”

The Northfield, Ill.-based maker of Macaroni & Cheese and Oreos finalized its Cadbury acquisition in February.

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