Kraft, Kellogg Beat Analyst Expectations†

Despite Quarterly Earnings Tumble, Marketers Stick With Upping Ad Spending

Advertising Age, April 30, 2008 — In the face of rising commodity costs and cautious consumers, most brand-name food manufacturers are continuing to increase marketing investment. Kraft and Kellogg, which both reported earnings this morning, credited advertising and marketing with the strength of the companies' respective brand portfolios. Both marketers saw profits drop and simultaneously beat analyst expectations.