October 25, 2018 / 11:09 AM / in 24 days

Hershey's quarterly sales miss estimates

Oct 25 (Reuters) - Confectioner Hershey Co reported lower-than-expected quarterly revenue on Thursday, as growth in the Kisses and Reese peanut buttercups maker’s recently bought snack brands failed to offset a drop in sales of sugary chocolates.

Net income attributable to Hershey fell to $263.71 million, or $1.25 per share, in the third quarter ended Sept. 30, from $273.30 million, or $1.28 per share, a year earlier.

Sales rose 2.3 percent to $2.08 billion, missing the average analyst estimate of $2.09 billion, according to Refinitiv data. (Reporting by Soundarya J in Bengaluru Editing by Saumyadeb Chakrabarty)

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