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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Mondelez International Inc | NASDAQ:MDLZ | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.86 | -1.20% | 70.97 | 70.00 | 71.00 | 72.64 | 71.82 | 72.03 | 10,709,356 | 21:38:22 |
From Apr 2023 to Apr 2024
By Dean Seal
Mondelez International logged stronger earnings in the second quarter as higher prices lifted revenue substantially higher than analysts had been expecting.
The Chicago-based maker of Oreo cookies and Triscuit crackers posted a profit of $944 million, or 69 cents a share, compared with $747 million, or 54 cents a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were 76 cents a share. Analysts polled by FactSet had been expecting 69 cents a share.
Sales came in at $8.51 billion, up from $7.27 billion in the year-ago period and above analyst forecasts for $8.22 billion, according to FactSet.
Mondelez logged 15.8% organic revenue growth for the quarter that was driven entirely by pricing, as company-wide volumes were flat. Volumes were down in Europe, but the decline was offset by gains in North America and the company's other regions.
Shares advance 1.9% to $73.73 in after-hours trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
July 27, 2023 16:42 ET (20:42 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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