Kroger quarterly results beat market expectations

Kroger Co., the leading grocer in Indianapolis in terms of market share, on Thursday reported earnings of $347 million in its fiscal second quarter, exceeding analyst expectations.

On a per-share basis, the Cincinnati-based company said it had profit of 70 cents.

The results surpassed Wall Street predictions. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The supermarket chain posted revenue of $25.31 billion in the period, which also topped forecasts. Analysts expected $24.91 billion, according to Zacks.

Kroger expects full-year earnings in the range of $3.22 to $3.28 per share.

Kroger shares have increased 31 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 8 percent. The stock has climbed 38 percent in the last 12 months.

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