PITTSBURGH (AP) — PITTSBURGH (AP) — The Kraft Heinz Company (KHC) on Wednesday reported a loss of $5.46 billion in its second quarter.
The Pittsburgh-based company said it had a loss of $4.60 per share. Earnings, adjusted for one-time gains and costs, came to 56 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The processed food company with dual headquarters in Pittsburgh and Chicago posted revenue of $6.26 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $6.16 billion.
Kraft Heinz expects full-year earnings in the range of $2.03 to $2.09 per share.
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