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Kellogg revenue misses estimates as North America sales stay weak
February 6, 2014 / 1:20 PM / 4 years ago

Kellogg revenue misses estimates as North America sales stay weak

Feb 6 (Reuters) - Kellogg Co, the world’s largest maker of breakfast cereals, reported lower-than-expected quarterly sales due to continued weakness in North America, sending its shares down 1 percent in premarket trading.

The company reported a net income of $818 million, or $2.24 per share, for the fourth quarter ended Dec. 28 compared with a loss of $32 million, or 9 cents per share, a year earlier.

Kellogg earned 83 cents per share, excluding items.

Revenue fell 1.7 percent to $3.50 billion. Sales in North America were down 2.8 percent in the fourth quarter.

Analysts on average had expected the company to earn 82 cents per share on revenue of $3.53 billion, according to Thomson Reuters I/B/E/S. (Reporting by Siddharth Cavale in Bangalore and Lisa Baertlein in Los Angeles; Editing by Kirti Pandey)

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