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Shares of Mondelez International (MDLZ)  rose Tuesday after the maker of Oreo cookies and Cadbury chocolates reported better-than-expected first-quarter earnings.

Net earnings for the first quarter were $914 million, or 63 cents a share, down from $1.05 billion, or 70 cents a share, in the comparable year-earlier period. However, the per-share results beat the 61 cents a share expected by analysts polled by FactSet.

Revenue was $6.53 billion vs. $6.77 billion a year earlier.

The company reiterated its full-year forecast of net revenue growth of between 2% to 3% and adjusted per-share earnings growth of 3% to 5%, though it expects exchange rates to reduce its net revenue growth by approximately 3%, with a negative 9-cent impact on an adjusted basis.

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Shares of Mondelez gained 2.34% to $52.04 in trading on the Nasdaq Stock Exchange. Mondelez shares have gained more than 30% since touching a 52-week low of $37.42 in late December.

Mondelez remains in talks to acquire international brands including Arnott's cookie brands being sold by Campbell Soup (CPB) for approximately $2.5 billion, though the companies reportedly have been locked in a stalemate over the offer price since mid-April.