Mondelez beats third-quarter profit estimates
Mondelez beat third-quarter profit estimates as easing cocoa costs and higher pricing supported margins. The Oreo maker also announced the acquisition of Undercover Snacks to expand its healthy indulgence portfolio.
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Mondelez International posted an adjusted profit of 78 cents per share for the quarter ending September 30, beating Wall Street expectations on favorable cocoa prices. The snack maker topped consensus estimates of 71 cents per share, sending shares up 6.5% in extended trading. The profit beat arrives as easing cost pressures give the company more room to offer promotions and value packs.
