Kraft Heinz's quarterly profit quadruples

Kraft Heinz Co, the maker of Kraft cheese, Heinz ketchup and Jell-O, reported a quarterly profit that quadrupled, helped by aggressive cost-cutting measures and lower commodity costs. The company performed well in the second quarter even as it and rivals, such as General Mills Inc and ConAgra Foods Inc, have seen demand for their processed foods weaken as consumers shift to fresh foods and items perceived to be healthier.
The company earned $186 million, or 15 cents per share, a year earlier.
Adjusted earnings per share of 85 cents beat analysts' estimates for 72 cents, according to Thomson Reuters I/B/E/S. Kraft's stock price is up about 17 percent this year.