April 28 (Reuters) – Oreo-maker Mondelez International beat Wall Street estimates for first-quarter revenue and profit on Tuesday, helped by higher net pricing and resilient demand for its chocolates and biscuits.
Shares of the Chicago-based company were up 2% after the bell.
With Mondelez having pushed through multiple rounds of price hikes during cocoa’s record rally in 2024, a global surplus that has driven down prices by around 70% so far this year has cushioned the chocolate maker’s margins.
The company’s volumes in its North American segment during the quarter were down 0.4 percentage points from a year earlier, compared with a 3.1 percentage-point fall in the year-ago quarter.
Mondelez’s pricing rose 3.5 percentage points during the quarter, compared with a 6.6 percentage-point growth in the year-ago period.
Mondelez reported quarterly net revenue of $10.10 billion, compared with analysts’ average estimate of $9.75 billion, according to data compiled by LSEG.
On an adjusted basis, the company earned 67 cents per share for the first quarter, compared with estimates of 61 cents per share.
“These results reflect strong execution of our consumer-centric strategy supported by increased investments behind our brands and growth platforms despite ongoing macro volatility,” said CEO Dirk Van de Put.
Mondelez is among those that have sued the U.S. government to preserve their ability to secure refunds of tariffs they had paid under President Donald Trump’s earlier policy, which has been struck down by the Supreme Court.
The Toblerone maker reaffirmed its annual organic net revenue and adjusted earnings per share.
(Reporting by Koyena Das in Bengaluru; Editing by Jonathan Ananda)
