Kraft Foods Misses Revenues, Shares Falling (KFT)

Kraft Foods Inc. KFT reports Q3 earnings of $0.47 versus consensus of $0.46. Kraft Foods Inc. reports revenues of $11.86 billion versus consensus of $12.01 billion. "We had another good quarter, and we're executing well." said Irene Rosenfeld, Chairman and CEO. "Our global growth strategy of focusing on snacking and Power Brands gives us a clear path to top-tier performance. The Cadbury integration has proceeded smoothly and quickly, and we're already benefiting from significant cost synergies. I remain confident that we will achieve our goals for 2010 and accelerate our growth in 2011." At last check, shares of Kraft were down 19 cents in after-hours to $31.60, a loss of 0.60%‎.