Kraft’s 4Q Revenue Misses Wall Street Expectations

NEW YORK (AP) -

Kraft reported a higher quarterly profit boosted by market-based impacts tied to its retirement plans, but its sales fell short of Wall Street expectations.

The food maker said its core revenue during the period rose 3.2 percent. The company noted that a recall of its string cheese hurt its cheese unit.

For the fourth quarter ended Dec. 28, Kraft earned $931 million, or $1.54 per share, including a $1.11-per-share benefit tied to its retirement plans.

Analysts expected 61 cents per share, excluding one-time items.

A year earlier, Kraft earned $90 million, or 15 cents per share.

Revenue rose to $4.6 billion, but was shy of the $4.63 billion Wall Street had expected.

Kraft Foods Group Inc. is based in Northfield, Ill.