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Mondelez International Inc (MDLZ.O) reported lower quarterly profit on Wednesday in its first earnings report as a standalone snacks company.
The maker of Cadbury chocolates and Trident gum said net income was $652 million, or 36 cents per share, down from $922 million, or 52 cents per share, a year earlier.
Earnings were 37 cents per share when adjusted to reflect the spin-off of grocery brands like Maxwell House and Oscar Mayer into a separate company now called Kraft Foods Group Inc KRFT.O.
On that basis, revenue declined 5 percent to $8.3 billion. Organic revenue, which excludes the impact of divestitures, currency and accounting calendar changes, rose 1.5 percent.
The company stood by its 2013 outlook for organic revenue growth at the low end of the 5 to 7 percent range, with earnings of $1.50 to $1.55 per share.
(Reporting by Martinne Geller in New York; Editing by Gary Hill and Leslie Adler)
March 23 Mark Cohen, the head of restructuring finance at Deutsche Bank AG, will join Royal Bank of Canada as head of its U.S. capital solutions group in New York in June, people familiar with the matter said on Thursday.