Mondelez Stock Surged on Q3 Earnings Beat

MDLZ stock gained about 2.5% after the bell

By Karl Utermohlen, InvestorPlace Writer

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Mondelez stock (NASDAQ:MDLZ) is up late in the day as the company reported its latest quarterly earnings results after the bell on Monday, which were stronger than what analysts were calling for in their consensus estimate.

Mondelez StockThe confectionary company said that for its third quarter of fiscal 2018, it brought in adjusted earnings of $1.19 billion, which amounted to roughly 81 cents per share. Analysts were calling for the company to bring in adjusted earnings of 61 cents per share, according to the average estimate of seven analysts who were surveyed by Zacks Investment Research.

Analysts were also calling for Mondelez to bring in revenue of $6.33 billion, according to data compiled by Zacks. The company, which is responsible for the manufacturing and distribution of Oreo cookies, Cadbury chocolate and Trident gum, brought in revenue of $6.29 billion, which fell below what analysts were calling for in their consensus estimate.

MDLZ stock was up nearly 2.5% on Monday after the bell as the company reported its latest quarterly earnings results, which were stronger than what analysts were calling for according to their consensus estimate. The company’s shares were unmoved throughout regular trading hours, ending at the break-even point by the ring of the bell.


Article printed from InvestorPlace Media, https://investorplace.com/2018/10/mondelez-stock-mdlz/.

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