Shares of the company jumped almost 5% in premarket trading. Shares in the company, which has a market value of $34.8 billion, are down by about 33% so far this year, as of Wednesday's close.
Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Revenue: $6.08 billion vs. $6.13 billion expected Kraft Heinz reported fiscal third-quarter net income of $899 million, or 74 cents per share, up from $619 million, or 50 cents per share, a year earlier.
On an adjusted basis, which excludes certain one-time items, the food giant earned 69 cents per share, topping the 54 cents per share expected by analysts surveyed by Refinitiv.
Yummm high fructose corn syrup 🤮🤮🤮
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