Kraft Foods third-quarter profit beats analysts' estimates

Kraft Foods Inc., the world's second- largest food company, reported third-quarter earnings that beat analysts' estimates.

Net income at the maker of Oreos and Cadbury chocolate fell 8.5 percent to $754 million, or 43 cents a share, the Northfield-based company said today in a statement. Excluding some items, profit was 47 cents a share. Analysts anticipated 46 cents, the average of 18 estimates compiled by Bloomberg.

Kraft Foods North America sales climbed 9.3 percent in quarter that ended Sept. 30, fueled by Ritz crackers and Chips Ahoy! cookies. Revenue grew 70 percent in developing markets, aided by sales of Oreo cookies in China and Club Social crackers in Brazil. Organic revenue, which excludes acquisitions, divestitures and foreign-currency fluctuations, increased 2.1 percent.

In the year-earlier quarter, Kraft earned $824 million, or 55 cents a share.