Oct 30 Kraft Foods Group Inc reported a
higher quarterly profit on Wednesday, helped by cost savings
such as a reduction in ad spending in some of its businesses,
but revenues were lower than expected.
The maker of Maxwell House coffee and Planters nuts said net
income was $500 million, or 83 cents per share, in the third
quarter, compared with $466 million, or 79 cents per share, a
Net revenue declined 4.2 percent to $4.39 billion, in part
because a year earlier it had higher shipments ahead of its
spin-off from Mondelez International Inc.
Wall Street was expecting $4.56 billion, according to
Thomson Reuters I/B/E/S.