NEW YORK (TheStreet) -- Shares of Mondelez (MDLZ) - Get Report were gaining in pre-market trading on Wednesday as the company posted 2016 third-quarter earnings that beat analysts' estimates before today's opening bell.
Adjusted earnings came in at 52 cents per diluted share, topping analysts' expectations of 43 cents per share.
Mondelez reported revenue of $6.40 billion, falling short of analysts' projected $6.45 billion.
For the year-ago period, the Deerfield, IL-based snack and candy maker earned 42 cents per diluted share on revenue of $6.85 billion.
Mondelez now projects adjusted earnings growth of about 25% for 2016. Organic net revenues are expected to increase approximately 1.6% for the full year, which is in line with year-to-date growth, the company added.
Separately, 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.
The team rates Mondelez as a Buy with a ratings score of B. The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth and increase in net income. The team feels its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: MDLZ