Kraft Foods profit beats Wall Street

Kraft Foods posted quarterly earnings that far exceeded Wall Street estimates, as increased spending on some of its biggest brands paid off, sending the company’s shares higher.

Still, the US maker of Maxwell House coffee, Oscar Mayer lunch meat and Planters nuts stood by its full-year forecast as it expects to continue investing.

“I don’t want you to think that we’re off to the races in terms of underlying profit and earnings growth,” said chief financial officer Tim McLevish.

via Business feed http://www.scmp.com/business/companies/article/1229030/kraft-foods-profit-beats-wall-street