By Martinne Geller
Feb 13 Mondelez International Inc
reported lower-than-expected quarterly earnings on Wednesday,
due to a decline in sales despite improvements in its business
in Brazil and Russia.
Shares of the company, which makes Oreo cookies and Cadbury
chocolate, were down 4.4 percent in after hours trading.
The newly independent company said net profit was $534
million, or 30 cents per share, in the fourth quarter, down from
$830 million, or 47 cents per share, a year earlier.
Excluding items, earnings were 36 cents per share. Analysts
on average were expecting 38 cents per share, according to
Thomson Reuters I/B/E/S.
Revenue fell 1.9 percent to $9.50 billion. Analysts expected
The company stood by its 2013 outlook for revenue growth at
the low end of the 5 to 7 percent range. It raised its forecast
for operating earnings to a range of $1.52 to $1.57 per share,
due to changes in currency exchange rates.
It earlier forecast $1.50 to $1.55 per share.
Shares fell to $26.75 in after hours trade, from their close
on the Nasdaq at $27.75.