Mondelez Posts Mixed Results

Mondelez International, a US snack-foods company, reported earnings for the second quarter that topped analysts estimates, even as revenue dropped 5% amid a global cyber attack incident that hindered shipments in June. Earnings per share rose to $0.48, compared with $0.44 per share a year earlier, the maker of Oreo cookies said on Wednesday. Analysts polled by Capital IQ expected $0.45.

Revenue fell 5% to $5.99 billion, while analysts expected $5.98 billion. Net revenue fell 2.7% on an organic basis. The company said the malware incident affected both net revenue and organic net revenue. Last month, Mondelez said the attack hindered its ability to ship and invoice during the last four days of the second quarter. The company delivered “double-digit EPS growth in the quarter despite the revenue impact from the malware incident at the end of June,” said Chief Executive Irene Rosenfeld, who is retiring. “We’re seeing improved trends in Europe and across many of our emerging markets, and our North America business is on track for a stronger second half.”

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