January 31, 2019 / 12:11 PM / 5 months ago

Hershey's quarterly sales misses estimate

Jan 31 (Reuters) - Kisses chocolate maker Hershey Co reported lower-than-expected quarterly revenue on Thursday, as growth in the company’s recently acquired snacking brands failed to offset a drop in sales of sugary chocolates in North America.

Net income attributable to the Pennsylvania-based company surged to $336.8 million, or $1.60 per share, in the fourth quarter ended Dec. 31, from $181.1 million, or 85 cents per share, a year earlier.

Sales rose 2.5 percent to $1.99 billion, but narrowly missed the average analyst estimate of $2 billion, according to Refinitiv data. (Reporting by Soundarya J in Bengaluru; Editing by James Emmanuel)

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