The Kraft Heinz Company Q1 Profit Increases, beats estimates

(RTTNews) - The Kraft Heinz Company (KHC) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $776 million, or $0.63 per share. This compares with $563 million, or $0.46 per share, in last year's first quarter.

Excluding items, The Kraft Heinz Company reported adjusted earnings of $0.60 per share for the period.

Analysts on average had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.3% to $6.05 billion from $6.39 billion last year.

The Kraft Heinz Company earnings at a glance (GAAP) :

-Earnings (Q1): $776 Mln. vs. $563 Mln. last year. -EPS (Q1): $0.63 vs. $0.46 last year. -Analyst Estimate: $0.53 -Revenue (Q1): $6.05 Bln vs. $6.39 Bln last year.