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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.16 | 0.22% | 71.99 | 71.70 | 72.01 | 1,184 | 12:36:30 |
From Apr 2023 to Apr 2024
By Dean Seal
Mondelez International is raising its guidance for organic revenue and adjusted earnings growth this year on the back of strong second-quarter results.
The Chicago-based maker of Oreo cookies and Triscuit crackers said it now forecasts at least 12% organic revenue growth for the year, up from its previous guidance for at least 10% organic growth.
Adjusted earnings, which strip out one-time items, are likewise expected to grow at least 12% instead of the at least 10% as originally projected.
Unfavorable foreign currency translations are expected to cut the company's total annual revenue by about 2% and lower adjusted earnings by about 11 cents per share.
Chief Executive Dirk Van de Put said the upward revision is based on Mondelez's strong performance year-to-date. The company logged stronger adjusted earnings and revenue than analysts had been expecting in the second quarter.
Shares advanced 1.7% to $73.60 in after-hours trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
July 27, 2023 16:52 ET (20:52 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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