Oreo maker Mondelez posts better-than-expected 4Q earnings

DEERFIELD, Ill. (AP) - Mondelez reported-better-than expected adjusted earnings for the fourth quarter Wednesday, helped by growing sales of Oreo cookies, Trident gum and its other well-known brands outside the U.S.

In fact, North America was the only region that the company reported a drop in fourth-quarter sales from a year ago. Sales grew 5 percent in Europe, its biggest market, and more than 4 percent in Latin America.

The company's other brands include Chips Ahoy cookies, Halls cough drops and Ritz crackers.

Executives also commented on Keurig's deal to buy soda maker Dr Pepper Snapple. Mondelez, which had a stake in Keurig before the deal, will now have a 13 to 14 percent stake in the new company, Keurig Dr Pepper, when the deal closes next quarter. Executives at Mondelez said they expected the deal, announced earlier this week, to create additional value for Mondelez.

Keurig, known for its single-cup coffee brewers, said the acquisition will help it further expand into bottled iced coffees and tap into Dr Pepper Snapper's distribution network.

On Wednesday, Mondelez reported net income of $802 million, or 53 cents per share, in the three months ending Dec. 31.

Adjusted earnings came to 57 cents per share, a penny above what analysts expected, according to Zacks.

The Deerfield, Illinois-based company reported revenue of $6.97 billion, matching what analysts expected.

For 2017, the company reported net income of $2.9 billion, or $1.91 per share. It posted revenue of $25.9 billion for the year.

After its results were released, shares of Mondelez International Inc. were down about 9 cents at $44.31 in after-hours trading Wednesday.

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