NEW YORK (CNNfn) - Candy maker Hershey Foods Corp. edged out Wall Street forecasts Friday with a second-quarter profit of $48 million, or 33 cents a share, a penny ahead of First Call estimates.
Hershey, which counts Good & Plenty, Milk Duds and Reese's peanut butter cups among its properties, said revenue in the period totaled $880.4 million.
Earlier this month, the company warned that its second-quarter results might fall below estimates by 5 cents to 7 cents a share because of continued softness in its Asian and Russian markets. Hershey also noted sales for its promotion tied to the movie "Godzilla" were lower than last year's tie-in to "Lost World."
In the year-ago quarter, Hershey earned $50.6 million, or 33 cents a share, on $905.7 million revenue.
For the first half of 1998, Hershey posted earnings of $123.4 million, or 85 cents a share, on $1.98 billion revenue, compared with $119.5 million, or 77 cents a share, on $1.9 billion revenues a year earlier.
Hershey (HSY) shares closed off 2 at 62-1/4 in Thursday trading.