$KRFT Posts a 10% Drop in Revs and a 71% Drop in Profits

:Feb 15 (Reuters) – Kraft Foods Group Inc said fourth-quarter revenue likely declined 10.7 percent from a year earlier, largely due to reductions in trade inventories.

The company, spun off late last year from Mondelez International, said it estimated earnings of 15 cents per share for the quarter ended Dec. 29.

Analysts on average were expecting earnings of 22 cents per share on revenue of $4.74 billion in the fourth quarter, according to Thomson Reuters I/B/E/S….”

Full report