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Kraft’s profit beats Wall Street expectations

NEW YORK — Kraft Foods reported first-quarter results that beat Wall Street expectations as it increased sales and cut costs after its split from its global snack business.

The Northfield-based company makes products such as Oscar Mayer and Jell-O. It split from Mondelez, which took brands including Oreo, so that each could focus on a more narrow mix of products.

For the quarter, Kraft Foods Group Inc. earned $456 million, or 76 cents per share. That’s down from $483 million, or 82 cents per share, a year ago when it paid less in interest and other expenses.

Revenue rose 2 percent to $4.55 billion.

Analysts on average expected a profit of 63 cents per share on revenue of $4.49 billion.

The company stood by its outlook for the year.



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