Hershey benefits from advertising push

Hershey Co., the chocolate maker that dropped a plan to bid for Cadbury Plc this year, jumped as much as 4.3 percent in New York trading after reporting a first-quarter sales increase that beat analysts� estimates.

Revenue climbed 14 percent to $1.41 billion, as the candy maker�s U.S. market share grew by half a percentage point, the company said today in a statement. Analysts had predicted revenue of $1.29 billion.

The company benefited from increased advertising and promotions, Chief Executive Officer David West said in the statement.

�Your reinvestment in the business is good for both the short term and the long term,� Eric Katzman, an analyst at Deutsche Bank AG, told Hershey executives on a conference call.

Hershey rose $1.84 to $46.68 at 9:46 a.m. in New York Stock Exchange composite trading. Before today, the shares had increased 25 percent.