Shares of global chocolate manufacturer Hershey Co. (HSY) gained nearly 1.2% to close at $178.52 on Thursday after the company reported excellent financial results for the second quarter ended July 4, driven by strong international and domestic demand. Apart from chocolates, the Pennsylvania-based company also offers baked products like cakes and cookies. (See Hershey stock chart on TipRanks) Adjusted earnings per share increased 12.2% year-over-year to $1.47, beating the Street’s estimate of $1.43. Quarterly net sales grew 16.5% to $1.99 billion, exceeding analysts’ expectations of $1.83 billion. Hershey's North America segment net sales rose 12.3% year-over-year to $1.78 billion, and net sales for Hershey's International and other segments climbed 70.
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Hershey (NYSE:HSY)
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