Mondelez beats Q2 expectations and lifts organic revenue forecast
Business
Mondelez (the company behind Oreos and Cadbury) just posted stronger-than-expected results for the second quarter. Turns out, people can't get enough biscuits and chocolate.
With higher prices and steady demand, they've bumped up their annual organic revenue growth forecast to at least 2%.
In North America, both prices and sales volumes rose.
Mondelez shares rise after $9.36B revenue
The snack giant saw big organic revenue growth in Latin America (up 8.4%) and Asia, the Middle East, and Africa (up 7.1%).
Even as ingredient costs rose, results beat analyst predictions, hitting $9.36 billion in revenue.
Mondelez is also rolling out new zero-sugar and gluten-free Oreos to keep up with changing tastes.
Investors liked what they heard: shares rose nearly 2% after hours.