American company Kraft Heinz, one of the world's largest food producers, reported a second-quarter drop in net profit by 34.8%, or 1.5 times, year-on-year to $756 million. Adjusted earnings were $1 per share, while analysts had predicted 92 cents per share. Total revenue increased by 0.8% to 6 billion 690 million dollars. Experts had expected the figure at 6 billion 580 million dollars. The reason for the decline in profit was the weak performance in North America. Sales in the US fell by 1.9%. Since early 2018, the company's capitalization has decreased by 19% and amounted to 72.5 billion dollars.
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