Mondelez International Inc (NASDAQ:MDLZ) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are 2.66%.
Mondelez International Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 1.47% to $0.69 in the quarter versus EPS of $0.68 in the year-earlier quarter.
Revenue: Decreased 35.31% to $8.6 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mondelez International Inc reported adjusted EPS income of $0.69 per share. By that measure, the company beat the mean analyst estimate of $0.34. It missed the average revenue estimate of $8.62 billion.
Quoting Management: http://photos.prnewswire.com/prnh/20121003/MM86695LOGO )
“Faster top-line growth in emerging markets, strong volume/mix gains and increasing market shares globally drove our first-half business performance, which was in line with the expectations we outlined earlier in the year,” said Irene Rosenfeld, Chairman and CEO. “For the second half of 2013, we expect our top-line growth to accelerate from investments in emerging markets and continued momentum on our global snacking platforms and Power Brands, despite indications of slowing category growth in key markets such as China, Brazil and Russia. On the bottom line, we expect margins to expand through overhead leverage as well as continued aggressive focus on cost reduction efforts.”
Key Stats (on next page)…