Kraft Posts Profit Drop, Cites Commodity Costs
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From Reuters
Kraft Foods Inc. posted lower third-quarter profit, weighed down by increased costs for commodities like cheese and coffee.
Kraft posted profit of $779 million, or 46 cents a share, compared with $810 million, or 47 cents, a year earlier. Sales rose 4.7% to $7.83 billion.
Kraft shares closed up 19 cents at $32.33 on the New York Stock Exchange, before the earnings were reported.
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