Kraft Heinz Shares Slip After Hours On Earnings Miss

By Wallace WitkowskiMarketsMarketWatch Pulse

Kraft Heinz Co. shares declined in the extended session Wednesday after the food company's quarterly results fell short of Wall Street estimates. Kraft Heinz shares slipped 2.4% to $86.99 after hours. The company reported adjusted first-quarter earnings of 84 cents a share on revenue of $6.36 billion. Analysts surveyed by FactSet had forecast earnings of 86 cents a share on revenue of $6.46 billion. "Although our top line results in the first quarter reflect a slow start to the year, we remain on track with our key initiatives," said Bernardo Hees, Kraft Heinz chief executive, in a statement.

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