Kraft Heinz had lower profit and sales in the second quarter, but raised its sales outlook as it aims to mitigate higher supply costs by raising prices.

The company behind Jell-O and Lunchables on Wednesday posted a loss of $5.46 billion, or $4.60 a share, compared with a loss of $7.82 billion, or $6.60 a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 56 cents, ahead of the 53 cents anticipated by analysts, according to FactSet.

Revenue fell 1.4% to $6.26 billion. Analysts surveyed by FactSet forecast revenue of $6.13 billion.

North American sales were down 2.7%, while international developed markets fell 3.5%. Emerging markets had a 10% bump in sales.

The declines stemmed from lower volume and mix. Inflation in manufacturing and logistics, as well as higher advertising expenses, weighed on the company's adjusted operating income.

Kraft Heinz did raise prices in each of its segments, as it tried to offset higher input costs, primarily in coffee and ready-to-drink beverages.

The company narrowed its outlook for annual adjusted earnings per share to $2.03 to $2.09, up from $1.98 to $2.10. It now expects net sales to fall 0.5% to 2% during the year, compared to its previous outlook of a 1.5% to 3.5% decline.

Kraft Heinz is also increasing its incremental investments in the business by $100 million to a total of $700 million this year.