Mondelez’s Cost Cuts Fuel Profit Gains Amid Sluggish Demand
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Mondelez International Inc., the maker of snacks such as Oreo cookies and Ritz crackers, topped third-quarter profit estimates and raised its earnings forecast, lifted by cost-cutting efforts.
Excluding some items, profit amounted to 50 cents a share last quarter, the Deerfield, Illinois-based company said today in a statement. Analysts had estimated 39 cents on average, according to data compiled by Bloomberg. The shares jumped as much as 4.2 percent after the results were released.