US food giant Mondelez International reported second-quarter results that beat market expectations for both revenue and profit. Solid demand for biscuits and chocolate in key markets, along with the impact of price increases, boosted performance. Revenue came in at 9.36 billion dollars, topping the average analyst estimate of 9.2 billion dollars compiled by LSEG. Adjusted earnings per share also beat market forecasts by 0.05 dollars. The company raised its full-year organic revenue growth outlook to at least 2 percent, up from the previous range of flat to up 2 percent. In North America, its largest market, pricing contributed 2.2 percentage points and volume added 1.2 percentage points in the second quarter. By region, organic revenue rose 8.4 percent in Latin America and 7.1 percent in Asia, the Middle East and Africa. Adjusted gross margin improved by 20 basis points from a year earlier.
Mondelez International IncQ2 revenue and profit beat estimates, raised full-year organic revenue growth outlook