Summary Box: Kraft Foods 3Q profit jumps 22 pct

Summary Box: Kraft Foods' 3rd-qtr net income jumps 22 percent; price hikes offset higher costs

Associated Press

RESULTS: Kraft Foods Inc.'s third-quarter profit jumped 22 percent to $922 million, or 52 cents per share. After adjusting for integration costs related to its acquisition of Cadbury and other special items, the company earned 58 cents per share.

Kraft's revenue rose nearly 12 percent to $13.23 billion helped by stronger sales and higher prices.

EXPECTATIONS: The results beat analyst expectations of adjusted net income of 55 cents a share on revenue of $12.8 billion for the quarter, according to a survey by FactSet.

OUTLOOK: Kraft also raised its full-year outlook. It now expects to earn $2.27 per share, up from its prior forecast of $2.25 per share, and in line with analysts' expectations. Revenue is expected to increase 6 percent, up from its prior forecast of a 5 percent increase.

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