Shares of Mondelez International Inc. (MDLZ) rose more than 3% in the extended session Tuesday after the maker of Oreos and other food and beverages reported first-quarter profit and sales above expectations. Mondelez said it earned $961 million, or 68 cents a share, in the quarter, compared with $736 million, or 51 cents a share, in the year-ago quarter. Adjusted for one-time items, the company earned 77 cents a share. Sales rose 8% to $7.2 billion. Analysts polled by FactSet had expected Mondelez to report adjusted earnings of 69 cents a share on sales of $7 billion. First-quarter results "demonstrate that we are emerging from the COVID-19 pandemic stronger," Chief Executive Dirk Van de Put said in a statement. "We saw continued improvement across emerging markets, healthy demand in developed markets and another quarter of strong share performance." Mondelez ended the regular trading day down 0.1%.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 27, 2021 16:38 ET (20:38 GMT)
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