DEERFIELD, Ill. (AP) — Mondelez International Inc. (MDLZ) on Wednesday reported a fourth-quarter loss of $729 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Deerfield, Illinois-based company said it had a loss of 46 cents. Earnings, adjusted for non-recurring costs and restructuring costs, were 46 cents per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The maker of Oreo cookies, Cadbury chocolate and Trident gum posted revenue of $7.36 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $7.45 billion.
Mondelez shares have dropped slightly more than 6 percent since the beginning of the year, while the Standard & Poor's 500 index has declined nearly 7 percent. The stock has increased 17 percent in the last 12 months.