Investing.com - Kraft Heinz (NASDAQ:KHC) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Kraft Heinz announced earnings per share of $0.7 on revenue of $6.55B. Analysts polled by Investing.com anticipated EPS of $0.6812 on revenue of $6.38B.
Kraft Heinz shares are up 7% from the beginning of the year, still down 13.88% from its 52 week high of $44.87 set on May 10. They are outperforming the Nasdaq which is down 26.09% from the start of the year.
Kraft Heinz follows other major Consumer Staples sector earnings this month
Kraft Heinz's report follows an earnings beat by Coca-Cola on Tuesday, who reported EPS of $0.7 on revenue of $11.33B, compared to forecasts EPS of $0.6693 on revenue of $10.54B.
PepsiCo had beat expectations on July 12 with second quarter EPS of $1.86 on revenue of $20.23B, compared to forecast for EPS of $1.74 on revenue of $19.51B.
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