Kellogg spends more on ads, beats earnings expectations

10/30/2009 | Advertising Age (tiered subscription model)

Kellogg, which boosted its ad budget 17% in the third quarter, beat Wall Street expectations with a 5% increase in earnings-per-share. The company predicted another double-digit ad spending increase for the fourth quarter, with CFO John Bryant saying reduced media costs provide an "opportunity to increase our investment and build even stronger brands in the future."

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