NEW YORK (TheStreet) -- Mondelez (MDLZ) - Get Report second quarter earnings of 44 cents per share beat analyst estimates of 40 cents per share on the bottom line, but revenue of $6.302 billion missed estimates of $6.332 billion, CNBC's Jon Fortt reported on "Squawk Box" Wednesday.

The American food and beverage company based in East Hanover, N.J. made a $23 billion bid for chocolate maker Hershey's (HSY) earlier this year. Hershey's board unanimously rejected the bid.

The company performed well this quarter and continued to return cash to its shareholders, while working in a challenging macro environment, Mondelez CEO Irene Rosenfeld told CNBC.

The company only saw growth in the U.S. this quarter from last year, CNBC's Sara Eisen said.

"We're continuing to see strong volume mix growth as we get some of the pricing actions behind us and we do see those as areas of continued opportunity and investment," Rosenfeld said.

The growth in the company's emerging markets will vary, but Mondelez continues to see potential for long-term growth in developed markets, Rosenfeld explained.

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Mondelez has announced it will start selling Milka chocolate in China, where chocolate consumption is lower than any other market. The company hopes it will increase over time, she added.

The company fell flat on revenues in the European market, but sees an improvement in top line growth and significant margin improvement on the bottom line margins which increased to 18%, Rosenfeld noted. 

Shares of Mondelez are falling by 2.26% to $44.23 this afternoon.

Separately, TheStreet Ratings team set this stock at a "buy" with a ratings score of A-. The company's strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. TheStreet Ratings team feels its strengths outweigh the fact that the company shows weak operating cash flow.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

You can view the full analysis from the report here: MDLZ

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