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Oreo Maker Mondelez Beats Second-Quarter Estimates on Steady Demand
Steady demand for chocolates and biscuits helped the Oreo maker post $9.36 billion in revenue and 73 cents a share in adjusted profit.
- On Tuesday, Mondelez International reported second-quarter revenue of $9.36 billion, surpassing Wall Street's average estimate of $9.20 billion amid steady demand for Cadbury chocolates and biscuits.
- A global cocoa surplus relieved margin pressures, allowing Mondelez to offer promotions and value packs while steady demand for Oreo and Trident brands sustained quarterly performance.
- The Chicago-based company posted adjusted quarterly profit of 73 cents per share, exceeding the 68 cents estimated by Zacks Investment Research and reporting $1.55 billion in total earnings.
- Mondelez maintained its annual adjusted profit forecast of flat to up 5% while raising annual organic net revenue growth expectations to 2% from the flat to 2% forecast provided earlier.
- Broadening its zero-sugar and gluten-free Oreo ranges, Mondelez is targeting customers increasingly focused on sugar consumption and nutritional choices, positioning the company for shifting consumer preferences.
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Mondelez International, Inc. $MDLZ Shares Bought by South Dakota Investment Council
South Dakota Investment Council lifted its position in shares of Mondelez International, Inc. (NASDAQ:MDLZ - Free Report) by 16.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,927 shares of the c
·Sioux Falls, United States
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Snack manufacturer Mondelez sees a slight decline in Europe - RetailDetail EU
Mondelez International, the manufacturer of snack brands such as Oreo and Milka, is experiencing strong growth in emerging markets but is facing a challenging environment in its largest market, Europe, where the trend is nonetheless positive.
Oreo maker Mondelez beats second-quarter estimates on steady demand
·London, United Kingdom
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Coverage Details
Total News Sources18
Leaning Left2Leaning Right2Center8Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
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