BATTLE CREEK, Mich. (AP) — Cereal maker Kellogg Co. says its fourth-quarter net income rose 23 percent as higher revenue in North America helped offset weakness in Latin America and Europe. The maker of Frosted Flakes cereal, Eggo waffles and Keebler cookies said Thursday that it earned $232 million, or 64 cents per share, for the quarter ended Dec. 31. That's up from $189 million, or 51 cents per share, in the same quarter last year. Analysts expected 63 cents per share, according to FactSet. Kellogg's revenue rose 5 percent to $3.02 billion from $2.86 billion last year. Analysts expected $2.99 billion. Food companies such as Kellogg have offset higher ingredient costs by raising prices and passing along costs to shoppers. |