Oreo maker Mondelez International Inc posted quarterly results above market expectations and raised its quarterly dividend by 11per cent on ...
REUTERS: Oreo maker Mondelez posted quarterly results above market expectations and raised its quarterly dividend by 11 per cent on Tuesday , driven by strong demand for its snacks and chocolates in North America.
Demand for packaged foods has extended into the current quarter in North America after initial stockpiling in March, as consumers largely prefer eating at home to visiting restaurants due to the fears of contracting the novel coronavirus.The company's net revenues rose 17.3per cent in North America to US$2.03 billion, cushioning the blow from declines in other markets.
Mondelez's overall revenue fell to US$5.91 billion from US$6.06 billion, but came in above market estimates of US$5.90 billion, according to IBES data from Refinitiv.Excluding certain items, Mondelez earned 63 cents per share in the quarter ended June 30, above analysts' estimate of 56 cents.Source: Reuters
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