8/4, 1:02 PM (Source: TeleTrader)
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Kraft Heinz Q2 net sales down 0.5% YoY to $6.6B

The Kraft Heinz Company reported on Wednesday that its net sales for the second quarter of the year decreased 0.5% compared to the same period last year falling to $6.61 billion.

For the same period, the company's operating income surged 192.2% year-on-year from a loss of $1.34 billion to an income of $1.23 billion, while its net loss saw a yearly decline of 98.5% from a loss of $1.65 billion to a loss of $25 million. Kraft Heinz's diluted loss per share went from $1.35 last year to this year's loss per share of $0.02.

Kraft Heinz CEO Miguel Patricio commented on the results: "Our second-quarter results serve as a strong indicator that our Kraft Heinz team will not only deliver a stronger 2021 than we initially anticipated but will come out of the global pandemic much stronger than we entered."

Shares of Kraft Heinz were down 0.10% in the premarket trade following the release of the report.

Breaking the News / OL