UPDATE: Mondelez Posts Downbeat Q4 Profit
Mondelez International (NASDAQ: MDLZ) reported weaker-than-expected fourth-quarter profit.
Mondelez lifted its 2013 operating income forecast by $0.02 per share to $1.52 to $1.57 per share.
Mondelez's quarterly revenue declined 2% to $9.5 billion, while organic revenue climbed 4%. Its quarterly earnings dropped to $534 million, or $0.30 per share, from $830 million, or $0.47 per share, in the year-ago period.
On an adjusted basis, its operating income came in at $0.36 per share. However, analysts were expecting earnings of $0.37 per share on revenue of $9.65 billion
Mondelez shares fell 3.57% to $26.76 in after-hours trading.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.