Kraft Shares Fall 2.2% After First-quarter Earnings Miss

Kraft Food Groups Inc. {s: KRFT] shares fell 2.2% after hours Tuesday after the company missed first-quarter earnings expectations. Kraft reported net income of $429 million, or 72 cents a share, down from $513 million, or 85 cents a share, in the year-earlier period. The 72 cents earnings per share includes a negative 14 cents impact to post-employment benefit plans and other spending. The FactSet consensus for adjusted earnings per share was 81 cents. Kraft reported sales of $4.35 billion, below the FactSet consensus of $4.43 billion.