Kraft Heinz rose nearly 1% in premarket trading as it beat revenue estimates helped by higher prices

Kraft Heinz Co(KHC.O)beat Wall Street expectations for quarterly sales on Wednesday, as the packaged food company benefited from raising product prices to tackle rising inflation.

Net sales in the third quarter fell to $6.32 billion for the Jell-O maker from $6.44 billion a year earlier. Analysts on average had expected sales of $6.05 billion, according to Refinitiv IBES.

Kraft Heinz Co shares rose nearly 1% in premarket trading.