Mondelez Q1 Profit Rises, Beats Estimates

(RTTNews) - Illinois-based confectionery manufacturer Mondelez International, Inc. (MDLZ), Tuesday reported a first-quarter profit of $961 million or $0.68 per share, compared to $736 million or $0.51 per share in the previous year.

Excluding one-time items, the earning per share was $0.77, beating an average estimate of $0.69 by 19 analysts polled by Thomson Reuters.

Net revenue rose 8% to $7.2 billion from $6.7 billion last year. This trumped the analysts projected revenue estimate of $7.02 billion.

Looking forward, the company expects earnings per share of $0.87 for the second quarter. Analysts currently estimate earnings of $0.65 per share. The company expects the net revenue to increase 2% in the second quarter, while the analysts currently expect $6.41 billion.