2/2 © Reuters. FILE PHOTO: Mondelez International logo seen on Opfikon 2/2
(Reuters) -Mondelez International Inc beat Wall Street estimates for first-quarter revenue on Tuesday, driven by higher demand for its cookies and chocolates in Asian and European markets. Food and snack manufacturers have seen sales spike during the pandemic as consumers huddled at home sought comfort from well-known brands. North America segment net revenue grew 7.9% to $ 7.24 billion, while European market revenue grew 10.2% to $ 2.85 billion. Revenue increased to $ 7.24 billion from $ 6.71 billion a year ago, topping the average analyst estimate of $ 7.02 billion, according to IBES data from Refinitiv. Net earnings attributable to the company increased to $ 961 million, or 68 cents a share, in the first quarter ending March 31, from $ 736 million, or 51 cents a share a year earlier.
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