Credit: REUTERS/ARND WIEGMANNAdds financial details, company background
CHICAGO, Oct 29 (Reuters) - Oreo maker Mondelez International Inc MDLZ.O raised its 2019 sales forecast on Tuesday after reporting a 1.1% rise in third-quarter revenue, driven by higher demand in emerging markets and North America.
Mondelez said it expects full-year organic net revenue growth of over 3.5%, up from the Illinois-based company's previous forecast of over 3% growth. Mondelez also said it now expects adjusted earnings per share growth of 5% to 7% on a constant-currency basis.
The company has been investing in marketing and creating new products to suit shoppers in emerging markets like China and India, where rising incomes and e-commerce sales have countered slow demand in developed countries.
Mondelez reported third-quarter earnings of $1.42 billion, or 98 cents per share, up from $1.19 billion, or 81 cents per share a year earlier. The company earned 64 cents a share on an adjusted basis, beating analysts' estimate of 60 cents of according to Refinitiv I/B/E/S data.
Net revenue rose to $6.36 billion in the quarter ended Sept. 30 from $6.29 billion a year earlier, just beating analysts' estimate of $6.34 billion.
Shares of Mondelez were flat in extended trading.
(Reporting by Richa Naidu in Chicago Editing by Matthew Lewis)
((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +1 312 636 8874; Reuters Messaging: richa.naidu.thomsonreuters.com@reuters.net))
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