Kraft: Q1 earnings snapshot

PITTSBURGH — Kraft Heinz Co. today reported first-quarter profit of $776 million.

On a per-share basis, the company said it had profit of 63 cents. Earnings, adjusted for one-time gains and costs, were 60 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese posted revenue of $6.05 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $5.79 billion.