Hershey's quarterly sales miss expectations
Natalliance Securities fixed income head Andy Brenner, Virtu floor trader Matt Cheslock and SFG Alternative CIO Larry Shover discuss whether the stock market will begin to decline after its record-breaking run.
Feb 1 (Reuters) - Hershey Co on Thursday reported quarterly revenue that missed analysts' estimates, hurt partly by the timing of shipments in North America and weak demand in international markets.
Sales fell 1.5 percent to $1.94 billion, missing analysts' estimate of $1.95 billion, according to Thomson Reuters I/B/E/S.
However, net income rose to $181.1 million, or 85 cents per share, in the fourth quarter ended Dec. 31, from $116.9 million, 55 cents per share, a year earlier.
(Reporting by Sangameswaran S in Bengaluru; Editing by Martina D'Couto)