MONDELEZ: ABOVE EXPECTATIONS IN Q102/05/2018
Yesterday evening, Mondelez reported Q1 results that exceeded expectations.
The US agri-food giant posted net income of 938 million dollars, or 62 cents a share, against 630 million dollars, or 41 cents a share a year earlier. The group outperformed a less optimistic consensus, which was looking for EPS of 58 cents.
Similarly, revenue came in at 6.77 billion dollars, compared to 6.41 billion last year. Analysts predicted less growth to 6.66 billion dollars. In detail, growth reached 2.4% in organic terms and sales rose 5.5% in emerging countries to 2.58 billion dollars.
Mondelez targets double-digit EPS growth at end-2018. The group has also extended its forecast for organic sales growth of 1% to 2%.
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