CINCINNATI (AP) — Kroger Co. on Thursday reported fiscal first-quarter net income of $680 million.
On a per-share basis, the Cincinnati-based company said it had profit of 70 cents.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The supermarket chain posted revenue of $34.6 billion in the period. Eight analysts surveyed by Zacks expected $34.66 billion.
Kroger expects full-year earnings to be $2.19 to $2.28 per share.
Kroger shares have decreased 15 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 1 percent. The stock has fallen slightly in the last 12 months.
Its shares rose 95 cents, or 2.7 percent, to $36.66 in morning trading Thursday.
Elements of this story were was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KR at http://www.zacks.com/ap/KR
Keywords: Kroger, Earnings Report