Snacks giant Mondelez said its second-quarter financial report will take a hit due to the massive cyberattack that impacted companies and governments around the globe late last month.
The maker of Oreo cookies and Ritz crackers said that the ransomware attack — linked to a "state actor" rather than independent hackers — affected its shipping and billing operations during the final days of the reporting period.
"Our preliminary estimate of the revenue impact of this event is a negative 300 basis points on our second quarter growth rate," the company said in a statement.
Mondelez expects to resolve most of the delays early in the third quarter of the year. Although some revenue was lost permanently "due to holiday feature timing," and the company expects to incur additional costs in both quarters, Mondelez maintained its revenue target of "at least 1 percent growth" for the full year.
Officials said the attack was largely contained and lauded efforts by its teams to address the technical problems and maintain operations.
"We are pleased that we are making good progress in restoring our systems across the enterprise," officials said.
The company will report full second-quarter results next month.