date:Aug 08, 2013
billionpreviously. It expects to purchase $1 billion to $2 billionworth of stock annually.
The company reported a 40 percent drop in second-quarterearnings compared with a year earlier, before the company spunoff Kraft Foods.
Net income was $616 million, or 34 cents per share, in thesecond quarter, down from $1.03 billion, or 58 cents per share,a year earlier.
Excluding one-time items, including costs related to lastyear's spin-off of Kraft Foods Group Inc, earnings were37 cents per share. O