Mondelez International beats 4Q profit forecasts
Mondelez International reported fourth-quarter net income of $500 million.
On a per-share basis, the Deerfield-based company said it had a profit of 29 cents. Earnings, adjusted for one-time gains and costs, were 47 cents per share.
The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The maker of Oreo cookies, Cadbury chocolate and Trident gum posted revenue of $8.83 billion in the period, which, issued Wall Street forecasts. Analysts expected $9.08 billion, according to Zacks.
For the year, the company reported a profit of $2.18 billion, or $1.28 per share. Its adjusted profit was $1.76 per share. Revenue was reported as $34.24 billion.
Looking ahead, Mondelez International Inc. said Wednesday that it expects its 2015 adjusted profit to rise at a double-digit rate on a constant-currency basis.
Shares of the company rose $1.02, or 2.9 percent, to $36.83 in morning trading Wednesday.
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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MDLZ at http://www.zacks.com/ap/MDLZ
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Keywords: Mondelez, Earnings Report