CINCINNATI (AP) - Kroger Co. on Thursday reported fiscal first quarter net income of $772 million.
On a per-share basis, the Cincinnati-based company said it had profit of 95 cents. Earnings, adjusted for non-recurring gains, were 72 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The supermarket chain posted revenue of $37.25 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $36.86 billion.
Kroger expects full-year earnings in the range of $2.15 to $2.25 per share.
Kroger shares have dropped 14% since the beginning of the year, while the Standard & Poor’s 500 index has increased 17%. The stock has declined nearly 9% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KR at https://www.zacks.com/ap/KR
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