Kroger tops 1Q net income expectations, misses revenue forecasts

MarketsAssociated Press

Kroger Co. (KR) on Thursday reported fiscal first-quarter profit of $619 million.

The Cincinnati-based company said it had profit of $1.25 per share.

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The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.

The supermarket chain posted revenue of $33.05 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $33.3 billion.

Kroger expects full-year earnings to be $3.80 to $3.90 per share.

Kroger shares have climbed 14 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 2 percent. The stock has climbed 55 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KR at http://www.zacks.com/ap/KR

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Keywords: Kroger, Earnings Report