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Kellogg Co. (K)
Battle Creek, Michigan-based Kellogg Co., the world's largest producer of breakfast cereals, reported a third-quarter profit rise as new cereals and increased advertising for Cheez-It crackers and Eggo waffles spurred sales. Net income at Kellogg, the No. 1 U.S. cereal maker, climbed to $274.3 million, or 66 cents a share, from $247 million, or 59 cents, a year ago. Revenue climbed 7.3% to $2.62 billion, exceeding analysts' average of $2.58 billion. Following this announcement, Kellogg also raised its full-year financial forecast, citing the strong business momentum it has seen so far this year.
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