Kraft Foods profit declines

Reuters

Kraft Foods Group Inc reported lower quarterly earnings on Thursday despite higher revenue.

The U.S. maker of Maxwell House coffee, Oscar Mayer lunch meat and Planters nuts said net income was $456 million, or 76 cents per share, in the first quarter, down from $483 million, or 82 cents per share, a year earlier.

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Net revenue rose to $4.55 billion.

(Reporting by Martinne Geller in New York; Editing by Bernard Orr)