Kraft Foods Misses Fourth-quarter Earnings Expectations

Kraft Foods Group reported fourth-quarter earnings Thursday below expectations. The company reported a net loss of $398 million, or a loss of 68 cents per share after a profit of $931 million, or $1.56 per share, in the year-earlier period. Adjusted earnings were also a loss 68 cents per share, below the FactSet consensus of 73 cents. The company reported sales of $4.696 billion, up from $4.595 billion in the year-earlier period, and above the FactSet consensus of $4.625 billion.