Mondelez beats Q3 expectations, says it has ‘momentum’ in developing countries

Mondelez beats Q3 expectations, says it has ‘momentum’ in developing countries

Shares of Mondelez International Inc. MDLZ, +0.00% were flat in the extended session Monday after the food and beverage giant reported third-quarter adjusted per-share earnings above expectations, saying it got “good momentum” in emerging markets. Mondelez said it earned $1.2 billion, or 81 cents a share, in the quarter, compared with $981 million, or 64 cents a share, in the year-ago period. Adjusted for one-time items, Mondelez earned 62 cents a share, compared with 56 cents a share a year ago. Revenue fell to $6.3 billion from $6.5 billion. Analysts surveyed by FactSet had expected adjusted earnings of 60 cents a share on revenue of $6.3 billion. Mondelez said it expects full-year 2018 growth to be about 2%. Shares ended the regular session also unchanged.

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