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Earnings Preview: Kellogg hopes for Pringles pop

NEW YORK (AP) -- Kellogg Co. reports its first-quarter results Thursday, which should give a glimpse into how the company's purchase of Pringles chips is adding to its revenue.

WHAT TO WATCH FOR: The company, which makes Froot Loops, Eggo waffles and Pop-Tarts, bought Pringles chips from Procter & Gamble Co. last year in an attempt to become a player in the global salty snacks market.

Pringles get two-thirds of its revenue from overseas, while Kellogg got most of its revenue from North America.

WHY IT MATTERS: Kellogg, based in Battle Creek, Mich., is synonymous with breakfast. But the company is looking to diversify at a time when cereal sales have struggled in North America, with people looking for even more convenient, on-the-go foods.

This year, the company is rolling out its "Breakfast To Go" milk-based drink as a result. Competitor General Mills is has also been testing a similar concept called "BFast" that has whole grains and promises the nutrition of a bowl of cereal and milk.

Growth in the broader packaged food market is also weak in developed countries, which makes Kellogg's push to expand in emerging markets all the more critical.

LAST YEAR'S QUARTER: The company earned $1 per share on revenue of $3.44 billion.

WHAT'S EXPECTED: Analysts on average expect a profit of $1.02 per share on revenue of $3.93 billion, according to FactSet.