Mondelez Tops 3Q Profit Forecasts

DEERFIELD, Ill. (AP) — Mondelez International Inc. (MDLZ) on Wednesday reported third-quarter net income of $548 million.

The Deerfield, Illinois-based company said it had net income of 35 cents per share. Earnings, adjusted for restructuring costs, were 52 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The maker of Oreo cookies, Cadbury chocolate and Trident gum posted revenue of $6.4 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $6.46 billion.

Mondelez shares have decreased almost 5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 5 percent. The stock has decreased nearly 9 percent in the last 12 months.