Mondelez International reported first quarter earnings higher than what analysts’ anticipated.
The confectionary company’s earnings of 63 cents a share surpassed analysts’ estimates of 61 cents a share (based on FactSet poll). However, the earnings per share was lower than year-ago quarter’s 70 cents a share.
Revenue, at $6.53 billion, came in lower than the prior year quarter’s $6.77 billion.
The maker of Oreo cookies and Cadbury chocolates reaffirmed its full-year prediction of net revenue growth in the range of 2% and 3%, and adjusted per-share earnings growth range of 3% to 5%.