Higher Earnings Posted by Kellogg
- Share via
Kellogg Co., the largest U.S. cereal maker, said second-quarter earnings climbed 16% as new products spurred sales.
Net income rose to $237.4 million, or 57 cents a share, from $203.9 million, or 50 cents, a year earlier, the Battle Creek, Mich., company said. Sales rose 6.2% to $2.39 billion.
Kellogg raised U.S. cereal prices an average of 4.5% two weeks ago to cover rising commodity costs and to pay for advertising new items, Chief Executive Carlos Gutierrez said.
Shares of Kellogg rose 52 cents to $40.75 on the New York Stock Exchange.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
