Mondelez second quarter earnings exceeded analysts’ expectations, on the back of strong revenue.
Adjusted earnings came in at 67 cents per share, 3 cents above estimates.
Net revenue rose about +10% from the year-ago quarter to $7.27 billion, beating estimates of $6.78 billion, according to IBES data from Refinitiv.
The Oreo maker expects 2022 organic net revenue growth of more than 8%, compared with its prior guidance of over 4%.
"While consumers (in developed markets) express growing frustration with rising prices for a broad range of goods and services, they continue to perceive chocolate and biscuits as affordable indulgences and an important pick-me-up," Chief Executive Dirk Van de Put said during a post-earnings call (as mentioned in a Reuters report).