Mondelez Tops 2Q Profit Forecasts

Mondelez International Inc.on Wednesday reported second-quarter earnings of $464 million.

Mnet 151437 Mondelez Logo Listing Image
Mnet 151438 Mondelez Logo Listing Image

DEERFIELD, Ill. (AP) — Mondelez International Inc. (MDLZ) on Wednesday reported second-quarter earnings of $464 million.

The Deerfield, Illinois-based company said it had net income of 29 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to 44 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The maker of Oreo cookies, Cadbury chocolate and Trident gum posted revenue of $6.3 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $6.33 billion.

Mondelez expects full-year earnings to be 8 cents per share.

Mondelez shares have climbed nearly 1 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent. The stock has increased almost 8 percent in the last 12 months.

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