Mondelez quarterly sales beat estimates for snack boom By Reuters

© Reuters.

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.

Disclaimer: Fusion Media wishes to remind you that the data contained on this website is not necessarily accurate or in real time. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but by market makers, so the prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not appropriate for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur as a result of the use of this data. Fusion Media or anyone involved with Fusion Media will not accept any responsibility for loss or damage as a result of reliance on information, including data, quotes, charts, and buy / sell signals contained on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.