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Kraft Heinz pops on strong first-quarter report

Heinz Ketchup on a hot dog
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Shares of Kraft Heinz closed up about 4 percent Thursday, a day after reporting better-than-expected quarterly results.

The firm that makes Heinz Ketchup and Kraft Cheese posted adjusted earnings per share of 73 cents on revenue of $6.57 billion. Analysts polled by Reuters expected the company to report earnings of 62 cents on revenue of $6.47 billion.

Kraft Heinz said cost of products sold declined about 8 percent to $4.19 billion in the first quarter ended April 3, partly because of lower dairy and coffee prices.

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The company was created last July, when Kraft Foods Group and H.J. Heinz merged.

KHC in 2016

Source: FactSet

— Reuters contributed to this report.