NEW YORK (TheStreet) -- Shares of Mondelez International Inc. (MDLZ) are higher by 4.48% to $36.60 in pre-market trading on Wednesday, after the company reported a 32.5% increase in its 2014 third quarter adjusted earnings to 50 cents per share.
Analysts polled by Thomson Reuters were expecting 39 cents per share, on an adjusted basis, for the most recent quarter.
Watch the video below for a closer look at Mondelez's latest quarterly results:Mondelez raised its full year 2014 earnings per share guidance to between $1.82 and $1.87, up from its previous guidance of $1.69 per share. Analysts are expecting EPS of $1.66 for the year.
The snack manufacturing company, which produces Oreo cookies and Ritz crackers, posted a 1.6% decline in net revenue to $8.3 billion for the most recent quarter. Analysts were expecting $8.38 billion in revenue for the quarter.
The company's net income declined to $899 million, or 53 cents per diluted share, compared to $1 billion, or 56 cents per diluted share for the 2013 third quarter.
Separately, TheStreet Ratings team rates MONDELEZ INTERNATIONAL INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MONDELEZ INTERNATIONAL INC (MDLZ) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."